Until this very moment, the next step for Blockport has been quite a mystery. In our latest blog post we announced that Blockport found a promising partner to launch the platform with, and more news would follow.
Today, we are thrilled to finally lift the curtain and officially announce that Blockport has been acquired by BUX. It’s the start of a new and promising chapter for Blockport, and we are proud and humbled by the opportunity to continue driving the project forward under the BUX brand! You can read more about the acquisition in BUX’s official press release here.
BUX, headquartered in Amsterdam, makes it easy and affordable for Europeans to do more with their money. Since launching in 2014, BUX has made the markets accessible for more than 2 million users across 9 countries in Europe. The company is backed by Holtzbrinck Ventures, Velocity Capital, Orange Growth Capital and Initial Capital.
BUX offers several platforms where Europeans can do more with their money. BUX X, their first product, oﬀers short-term, leveraged trading, all powered by a vibrant in-app community. Their second product, BUX Zero, brings commission-free investing to all, allowing users to invest in the brands and companies they care about through an intuitive, easy-to-use app.
With this acquisition, our platform will become part of the lineup of innovative financial tools for European traders and investors. Blockport will be rebranded to ‘BUX Crypto’ and provide existing and new BUX users with access to cryptocurrency markets. The founders and core team members of Blockport will join BUX and take ownership of the cryptocurrency offering. The Blockport platform will be rebranded and launched in Q1 of 2020.
“BUX and Blockport have a lot in common and we’re excited to take the project to the next level. We’re looking forward to welcoming the Blockport team to our ranks and can’t wait to launch the rebranded platform along with the rebranded token.” said Nick Bortot, CEO & Founder of BUX in the press release that we shared above.
In addition to the company name and platform, the Blockport Token will also be rebranded under the BUX umbrella. The token will remain integrated in the platform and will also keep its trading discount function, which offers users a discount on trading fees. Users will also be able to use the token in the future when more premium features become available, like advanced social community features.
Our shared mission
Since the start of Blockport two and a half years ago we have been in close contact with BUX and regularly shared updates with each other about our progress. Both BUX and Blockport share the same mission to make investing more intuitive, affordable and accessible to the greater public. We are excited to join forces with a company that aligns with the vision and mission that we have carried out since the very beginning.
Blockport was always a community-driven platform, and as we start a new chapter, we are happy to be joining a company that values and upholds the in-app community as a centerpiece. We believe this partnership will lead to bigger and more exciting features in the future that our community can look forward to. With young Europeans expressing interest in investing in cryptocurrency and with BUX being the European investment platform for millennials, the addition of our platform is a natural fit.
Together with BUX, we are fueling our dream to bridge the traditional world of finance with the new digital economy. With BUX we are on our way to become the best and largest personal finance platform in Europe.
Regulation and roadmap
Companies offering services for the exchange between cryptocurrencies and fiat money, as well as crypto wallet providers, must register with the Dutch Central Bank (DNB) as of the 10th of January 2020. Therefore, BUX Crypto will also register with the DNB as a cryptocurrency services provider. Due to these new regulations, in the last few months our development team has primarily focused on technical changes related to the new regulations in addition to the rebranding of the platform.
Our primary focus is to launch the rebranded platform as soon as possible. The second part of our focus is to improve the platform and introduce new features. After a successful launch, we will be able to share further information on BUX Crypto’s product roadmap.
As we look back on a turbulent year that saw tough challenges, we have seen that as opportunities for learning and growth. Having reflected on our decisions and the feedback we received, we have gathered our learnings and are looking forward to even greater opportunities that lie ahead of us with confidence.
We sincerely thank every single one of you for your unconditional support and we are looking forward to building a great product and even better future together!