Former Revolut employees launch Solvo, an app that simplifies crypto investing

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Meet Solvo, a new mobile app that seeks to make it easier to invest in cryptocurrencies and crypto-related financial products. The two founders Aylen Denovitzer and Shailendra Sesson met when they were working on the crypto team exclusively for Revolut.

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Earlier this year, Solvo raised a $3.5 million seed round from Index Ventures, with Coinfund and FJ Labs also participating. Since then, the company has put together a small team of 10 people and started working on its iOS app.

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The main principle behind Solvo is that cryptocurrencies are still too complex. If you are looking to buy crypto assets, chances are you don’t know where to start as there are thousands of different tokens out there. While you may have heard of DeFi (decentralized finance) and the ability to generate yields, access to those products is even more complicated.

When Solvo releases its app in October, users will be able to buy and sell tokens (obviously). But Solvo has handpicked 10 cryptocurrencies so that you don’t get lost in an endless list. You can also deposit and withdraw tokens with Solvo.

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The startup is also leveraging yield-generating staking or DeFi products by contributing to the liquidity pool. In this way, Solvo customers earn interest when they transfer their crypto assets to the company called ‘vaults’. For example, the startup plans to offer Solana and Cardano Vault.

Hiding complexity is an interesting strategy because Solvo can cut earnings from the vault. As long as customers still earn some interest, the product is working as expected.

Lastly, Solvo also lets you invest in bundles. It lets you invest in multiple projects and tokens in a single transaction. Essentially, it works like those popular token baskets, such as the DeFi Pulse Index or the Metaverse Index.

“Investing with Solvo will be simple, easy and understandable – three words unrelated to crypto. Solvo is meeting the clear need of investors today, offering products that focus on high quality assets, Which offer attractive yields along with diversified exposure and low risk. This is for all investors who want to use crypto to diversify their investments and want an easy way to do so,” co- Founder and CEO Aylen Denovitzer said in a statement.

In many ways, Coinbase basically described itself as the easiest way to get started with crypto. But the company has launched several different products over the years, including derivatives and support for 225 cryptocurrencies. Let us see if Solvo can fill this gap in the market.

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