Buying cryptocurrencies and shares directly through your Lydia account is now possible. The famous fintech France has continued to take steps to provide its users with new financial services in recent times. And the recent partnership with Bitpanda, one of the behemoths of crypto platforms, brings in application in a new category.
- Today, Lydia is no longer a simple payment peer to peer
- Bitpanda, high quality exchange, gives Lydia its strength
- Cryptocurrencies more accessible and democratized than ever
Lydia, the payment star assassinates the banks
Everyone knows Lydia. The application favorite of young people. At the same time, how can you not love her? Before, to send money to a loved one, you had to wait 48 hours, just for adding the beneficiary. Then, a SEPA transfer from one bank to another took at least one night. Because the banks had to wait for the night and manage interbank transfers via their small private market. But the banks and their shenanigans are the best argument and the best weapon of the financial revolution which is underway.
With Lydia App, it is common to tell a friend that we buy him a drink and that he reimburses us via Lydia if he has no cash on him, or simply if he has forgotten his card. These new platforms swept the world like a tsunami. The US equivalent is called Venmo, and it’s just as popular. The ancestor of these platforms? PayPal. But the online financial service is struggling to adapt. The large size that this company has come to take under the leadership of Elon Musk makes it less mobile. However, mobility, the ability to adapt, in our world, is crucial. Especially in the finance industry, especially in the era of cryptocurrencies, the internet and technological revolutions.
Today, while it took a lot of time and palaver for PayPal to integrate cryptocurrency, Lydia did it through a simple partnership. A simple, but substantial partnership. After opening its service payment peer to peer, the platform has developed savings solutions that are classic to say the least. With accounts at 0.6% interest, one would have thought that the application was taking the banks’ route, the wrong route.
With Bitpanda’s strength, Lydia’s bid overtakes Crypto.com
Bitpanda is even more. Bitpanda is not the first crypto exchange came. It is one of the best platforms in the world, and its offer has grown between its first days of existence and today. Initially, she focused exclusively on cryptocurrencies, purchase of Bitcoin, Ethereum, etc. But little by little, it opened up to other types of markets. Stocks, precious metals, ETFs. A full range of financial products. A way for its users to diversify their portfolio and to emancipate themselves in the complex world of finance and the investment.
It is interesting to note that this is not the only cryptocurrency platform that has attempted this opening. Binance has tried to offer stocks, in its sauce. Indeed, the number 1 exchange in the world wanted to put up for sale shares based on crypto assets. Except that they wanted to do it by ignoring the rules that normally apply for the marketing of this type of product. And so, regulators all over the world have fallen on them. Bitpanda did not make this mistake.
For the greater good of Lydia. Today, by becoming a Bitpanda partner, Lydia is not only offering itself the cryptocurrency market. But also the other markets available on Bitpanda. In other words, with a snap of the fingers, the service offer of the Lydia app becomes unique in the world. Which company offers both a banking service, a payment service as simple as sending an SMS, and access to the financial and crypto markets?
“If you want to buy assets right now, it’s too complicated,” said Cyril Chiche, co-founder and CEO of Lydia. “Even just accessing these markets is complicated. It takes several days for you to register and verify your account. After that you have to send money. And then there are minimum amounts ”.
The only platform that comes first when listing such a service offering is crypto.com. Except that crypto.com does not offer classic financial markets. If Lydia is not yet famous for her card, which does exist, it is because it is no longer necessary. Mobile payment is accepted via Lydia in many shops. And the expansion is accelerating.
The cryptocurrency market is now accessible to everyone
Finally, as a crypto investor, what should be remembered from this story is that now people with a Lydia account will be able to invest in cryptocurrencies. Hundreds of millions of euros will flow into the markets. Admittedly, this does not represent much in the face of the three trillion that the market currently weighs. But this new money will arrive and can cause a movement, which will then be followed by the masses.
When Lydia offered her savings service at 0.6% interest rate, many clients took advantage of this opportunity. With deposits of several thousand euros per customer. The possibility of making gains that are more interesting than 0.6% will very likely move these thousands of euros on the new account. trading.
This is one more step taken for the democratization of crypto currency on a large scale. The great strength of Lydia is to gather in the same place the wallet investment and payment facilities. So, like on crypto.com, users will have their money stored in cryptocurrencies. And they will be able very quickly cashout to spend it. Because if they are like you and me, they do not keep their money in current accounts or in savings accounts. It is better to keep your money in cryptocurrency until the last moment. Until the moment it is necessary cash out and put the money in the real economy, to pay for his train ticket or his sandwich.
Lydia is therefore entering the cryptocurrency race alongside Bitpanda. The arrival of such a platform in the crypto trading is not trivial. Lydia is mainly known in France, even in Europe. However, it remains one of the leaders in its sector in one of the richest areas in the world. Especially since Europe has become the epicenter of cryptocurrency transactions in 2021.