In a fundraising round headed by <a href="https://www.indexventures.com/" target="_blank" rel="nofollow noopener">Index Ventures</a>, former workers of the European fintech company Revolut have secured $3.5 million to develop a crypto investment application.
<h2>Solvo - Crypto Investment Application</h2>
The investment, completed in January at a valuation of $17.5 million for the firm, also included CoinFund and FJ Labs. Ayelen Denovitzer and Shailendra Sason, who became acquainted while working on Revolut's crypto operations, have been developing Solvo. Solvo is a new crypto investment application that aims to make investing in <a href="https://www.cryptoknowmics.com/news/ukrainian-supermarket-chain-accepts-cryptocurrencies-via-binance-pay/" target="_blank" rel="noopener">cryptocurrencies</a> and cryptocurrency-related financial products easier.

According to Denovitzer, individuals without a technological background find it difficult to implement these significantly superior solutions to traditional banking. He further stated,
<blockquote><em>"To be frank, the consumer solutions that are out there are very focused on buying and selling tokens and don't focus on other aspects of crypto that are super valuable."</em></blockquote>
<h2>Staking In Solvo</h2>
Denovitzer believes that the general public has not paid much attention to staking. Solvo's Vault product enables customers to earn up to 8% on cryptocurrencies such as <a href="https://www.cryptoknowmics.com/news/helium-token-owners-approve-switch-to-solana-blockchain/" target="_blank" rel="noopener">SOL</a> and <a href="https://www.cryptoknowmics.com/news/bitfinex-announced-support-for-cardano-ada-vasil-hard-fork/" target="_blank" rel="noopener">ADA</a> by staking them. Users can invest in several tokens associated with decentralized finance, the metaverse, and gaming using the company's Bundles product.

The waitlist for Solvo, which has 5000 individuals on it currently, started this week. The crypto investment application is scheduled to debut in October for iOS. Additionally, the startup is utilizing staking or DeFi goods, which provide income by boosting liquidity pools. Solvo users get income when they shift their crypto assets to Vaults.
<h2>Revolut Receives FCA Registration</h2>
Recently, after a drawn-out application procedure, Revolut has been given official clearance by the Financial Conduct Authority (<a href="https://www.cryptoknowmics.com/news/revolut-receives-fca-registration-to-provide-crypto-services-in-u-k" target="_blank" rel="noopener">FCA</a>) of the United Kingdom to provide Bitcoin services in the nation. On September 26, $33 billion of digital banking services were registered with the U.K. financial watchdog.

Ex-Revolut Workers Raise $3.5M to Launch Crypto Investment Application

In a round headed by Index Ventures, former workers of Revolut have secured $3.5 million to develop a crypto investment application.

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Ex-Revolut Workers Raise $3.5M to Launch Crypto Investment Application

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