2023 was a landmark year for Cointract. Not only did we launch our automated crypto trading app for the Swiss market in March 2023, we also passed our first audits, entered into new partnerships for innovative new products and recently launched a fully integrated digital cold wallet that offers our customers greater security for their crypto assets. Here is a review.
Crypto app launch in March 2023
Cointract AG is pursuing the goal of making blockchain technology accessible to everyone. After focussing on programming our innovative Cointract app in 2022 and implementing unique features - such as automated trading rules - we were able to present our app to the public in March.
The smartphone app gives users easy access to the world of Bitcoin, Ethereum, Ripple and many other coins. The onboarding process is fully automated and uncomplicated.
It was launched with two functions. With "Earning", users invest in stablecoins and diversify their portfolio. In addition to increased protection against market distortions, they also benefit from interest of between 3 - 8% p.a. This interest is credited to the account daily. Similar to securities lending, the assets are lent to the crypto exchanges to hedge daily transactions and earn interest from them. Users can dispose of the capital at any time, as there are no minimum terms. Up to CHF 20,000 can be withdrawn daily.
An algorithm was created specifically for crypto trading, with which cryptocurrencies can be traded fully automated. All users have to do is define their personal buying and selling rules. The app does the rest. This is unique in Switzerland. The overview of coin characteristics provides investors with useful coin-specific information on market capitalisation, trading volume and volatility. A trend barometer also shows the market sentiment towards the various cryptocurrencies. When trading, users also earn interest on the assets they hold.
Successful audit in April 2023
Cointract AG has been a member of the VQF (Association for Quality Assurance of Financial Services, Zug), a self-regulatory organisation for financial service providers recognised by FINMA, since October 2022.
But what does it mean to be an officially recognised financial intermediary? Self-regulatory organisations, such as the VQF, act as a supervisory body in Switzerland and are committed to combating money laundering and terrorist financing.
The VQF is responsible for monitoring compliance with money laundering legislation. This is done through regular audits of its members, which ensure consistent checks and thus guarantee a high level of compliance quality.
We had precisely this audit in April of this year and are pleased to report that we fulfil all guidelines and thus contribute to a regulated financial centre.
New partnership with Aktionariat in July 2023
In July 2023, Cointract concluded a game-changing partnership with the company Aktionariat.
Currently, only around 230 of over 500,000 Swiss companies are listed on the stock exchange.
Aktionariat recognises that markets operate most effectively when they are open and free. By utilising current legal and technological advances, Aktionariat is committed to creating the conditions under which SMEs can establish a liquid market for their shares.
From 2024, the SME tokens issued by Aktionariat will be listed on Cointract's trading app. This will allow Cointract users to purchase the ERC-20 tokens of their favourite Swiss companies and support their financing. This opens up an additional distribution channel for users of the Aktionariat platform to offer their tokens.
We are currently in the process of implementing this feature and look forward to working together.
White label crypto solution for cooperation partners
The underlying technology of the Cointract app has been expanded in such a way that it enables all functions to be easily, quickly and securely integrated into existing applications as a white label solution. This opens up the option for cooperation partners or financial service providers to provide the same crypto offerings via their own apps with minimal effort.
Cold wallet launch in November 2023
In November, we set another standard on the Swiss market: in addition to crypto trading, we are now the first provider for retail investors to offer a cold wallet for the secure storage of cryptocurrencies in an app. This means our customers benefit from greater security.
Despite the seamless integration of the cold wallet into the Cointract app, the coins stored individually on the blockchain and in the wallet are completely independent of the respective providers. This solution offers the significant advantage that all locally stored coins are protected in the event of provider bankruptcy.
Users also have access to their recovery seeds and therefore have full control over their cold wallet.
Merry Christmas and a successful 2024
We at Cointract wish you happy holidays and a prosperous new year! May the coming year 2024 bring growth, success and good business. We thank you for your support and look forward to another year of progress and innovation.
This article is for informational / promotional purposes only.