Crypto investment platform BitSave is planning to expand its operations in GCC nations alongside other Asian countries. In an exclusive interview with UnoCrypto, Zakhil Suresh, Founder & CEO of BitSave said “We will be targeting the GCC countries to start with (expansion). We are also exploring channel partnerships to enter other countries like Australia and Singapore.”
The platform’s expansion plans come after it just announced completing a pre-series A funding round. BitSave plans on investing the money from the funding towards securing necessary licenses, enhancing product offerings, and expanding brand awareness.
BitSave Eyes Expansion In Multiple Nations
BitSave at present is in the process of getting licensed and regulated by a reputed foreign regulator. Post licensing, the platform plans to expand its footprints to the GCC region. The platform is also exploring channel partnerships to enter other countries like Australia and Singapore.
Zakhil Suresh also added “We will be acquiring the necessary licenses required to operate and market our products in other countries, or partner with an already regulated entity to offer BitSave products in a compliant manner.”
BitSave Completes Pre-Series A Funding
According to the official announcement, cryptocurrency investing platform BitSave has successfully finished its Pre-Series A financing round, raising an undisclosed sum from Leo Capital.
Commenting on the capital raise, Zakhil Suresh said “Considering the long-term nature of our business model, which keeps our clients’ interests at its center, it was crucial to find a partner who shares our vision of building a regulated, global crypto platform without compromising on the core philosophy. And thus, we feel fortunate to have Leo Capital on board as a partner in this journey.“
Ravi Srivastava, Partner at Leo Capital, added “BitSave team has been building in and contributing to the crypto space for nearly a decade now. They bring a perfect balance of forward-thinking and risk mitigation necessary – be it with a thoughtful indexation approach, or strict compliance and secure custody of assets.”
They also commented, “Their vision to bridge the gap between traditional investing and digital assets with the simplicity of mutual-fund-like structures, while upholding global standards in transparency and compliance, strongly positions them for not only riding the secular trend but also defining the way investors perceive & adopt this emerging asset class globally.”
Additionally, in keeping with its goal of being the go-to cryptocurrency investment platform worldwide, the platform hopes to use the funds raised to extend its operational territory from India to other Asian nations by 2025.
BitSave Prioritizes Security For Customers
At present, the backdrop of the crypto world consists of multiple hacks, scams, and illicit money flow. In order to keep its customers away from hacks, the platform has kept security as one of its prime services.
“While crypto is meant to be self-custodied with no 3rd party risk, a lot of investors find it intimidating and challenging. Our goal is to offer the best security standard available in the industry for our clients and we store all our client assets in insured institutional custody,” said Zakhil Suresh.
He adds, “We operate with 100% transparency allowing our clients to view and verify the asset holdings directly on blockchain using our live Proof-of-Reserves and Liabilities. Our thesis is that exchanges are primarily built for active traders and investors. Hence passive long-term investors should be opting for institutional custody with multiple layers of authentications and insurance coverage in place – a safer option compared to storing crypto assets on an exchange.”