NEWS
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NEWS
Satoshi Citadel Industries has acquired bitcoin investment app Keza
Philippine Bitcoin fintech startup Satoshi Citadel Industries (SCI) has acquired bitcoin investment app Keza for an undisclosed sum.
Founded in 2015, Keza allowed bitcoin users to invest in bitcoin or fixed income stocks in the United States or other international stock exchanges via a mobile app. The app allowed users to invest in three types of trading – modest, conservative and aggressive – allowing users to choose their level of exposure to volatile assets and keep tabs on risk to their capital.
Despite positive reviews, the company ceased trading in April 2016. And while Keza never disclosed the reason why it shut down speculation at the time centered on it falling foul of U.S. Securities and Exchange Commission rules.
With the acquisition SCI has relaunched the app, which will sit alongside the company’s portfolio of products including Rebit.ph, a remittance service for the Philippines that charges zero service fees or hidden fees; Bitbit, an e-wallet that will allow users to send, receive and share money with friends and family over email, mobile and social media; and BuyBitcoin.ph, a fiat money to Bitcoin exchange catering for a Filipino audience.
“We’re thrilled that the Keza app is being relaunched with such an amazing team,” Keza Co-Founder Simon Burns said in a statement. “Keza was built for emerging markets users who don’t have access to global capital markets, which makes the Philippines a perfect match.”
Expansion
The relaunched app is only currently available on Apple devices, however, SCI stated they are committed to expanding the service.
“Now, we are re-launching a fully functional Keza app that will allow anyone, anywhere, to invest in a variety of US stocks using Bitcoin in a very simple app,” the company said in a blog post. “Of course, SCI is committed to build on the app and expand into more specific investment tools and applications so that anyone and everyone can safely and easily access these financial tools using technology.”
On paper, Keza does seem like a perfect fit for the rapidly growing SCI who most recently raised an undisclosed round from K Venture Group in June this year.
Prior to acquisition and subsequent closure Keza had raised $357,000 in one round from Digital Currency Group and Jason Calacanis.
If you’re interested in downloading the app you can do so via the Keza website here.
Image credit: Keza/ SCI.
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