- Upstart crypto exchange River Financial today launched a mobile platform for iOS.
- It wants to make buying crypto easier for clients aged over 50.
- River Financial says it's a conventional bank—but with crypto.
Boomers looking for a way to buy Bitcoin from their mobile phones just got another option. Designed for high-net worth individuals, upstart crypto exchange River Financial today launched a mobile platform for iOS. It aims to make buying crypto easy for older investors.
River Financial is a company that says it works like a conventional bank—but with crypto. In 2019, the firm raised $6 million in a seed funding round that included investments from Polychain and Castle Island Ventures. It claims to cater to older investors who want the same service as traditional financial institutions.
Its mobile app will be competing with big exchanges that already have popular platforms for phones—Coinbase, Kraken and Binance—but the company said that signing up to it and making purchases will be quicker than competitors.
River’s Co-Founder & CEO, Alex Leishman, said: “We believe that there is tremendous untapped potential with the mobile form factor and are investing heavily in bringing a high-end mobile experience to our clients.”
“We are excited to push the boundaries of high-tech, high-end financial services with our mobile-first design strategy,” he added.
The app is only available on iOS and will make use of Apple’s security features—such as face ID—and allow clients to instantly buy Bitcoin without waiting for fiat funding to settle.
River said that the app was launched because more boomers are using mobile-first products than ever before and many older investors are turning to Bitcoin as an alternative to stocks and bonds.