Cardano, Solana investments now available to millions of Germans

Cardano and Solana’s investment has been increasing among institutional investors for some time now. With all the new interest in decentralized finance (DeFi) and non-fungible tokens (NFT), it was a natural progression for those interested in investing in the crypto market. This is why various financial services providers have looked to assets like Cardano and Solana to expand their offerings. Now the bug has caught on in Germany as millions of users gain access to these altcoin investments.

German banks bring Cardano investments

In a recent partnership, two major German banks have been able to bring Cardano and Solana investments to their clients. Onvista and Comdirect, a bank under Commerzbank AG, have partnered with Valor in an effort to bring more crypto services to their customers.

Comdirect is known as the third largest bank in Germany, with more than 2.5 million users, according to a 2019 report. It partnered with Valor Inc., a publicly traded company that offers a bridge between traditional financial markets and the decentralized financial space. The trio worked out an integration where Onvista and Comdirect customers will be able to access a wide variety of exchange-traded products (ETPs) offered by the crypto company.

With this new offer, the German banks will be able to offer investment options for customers in a number of altcoins. These include Cardano, Solana, Polkadot, Uniswap, Avalanche, Cosmos and Enjin, all of which are major players in the decentralized finance space.

These products are offered alongside the existing passive investment products in Bitcoin and Ethereum already offered by Valour. Bitcoin Zero and Ethereum Zero were the flagship products of the firm.

It is interesting to see altcoins like Uniswap on this list as it shows that interest in the DeFi protocol is growing. A report from CoinShares shows that Uniswap was the only altcoin to see notable inflows for the past week, with $100,000 from institutional investors pouring into the digital.

As for the partnership between the trio, Valour CEO Russell Starr praised it as a step in the right direction for what the firm is trying to build. “Our recent hires have already added tremendous value to our team and will continue to perform at a high level, despite market conditions,” added the CEO.

Chief Sales Officer at Valour, Marco Infuso, also commented on the partnership, saying, “By integrating Valour’s low-to-zero fee ETPs, Comdirect and Onvista will be able to provide their clients with access to secure and regulated exposure to the crypto ecosystem.” Infuso went on to say, “Especially during ‘crypto winter’ times, cost is a top priority for investors. Offering zero-cost investment options in Bitcoin and Ethereum is a significant benefit to our investors and is another milestone in the democratization of this young and growing asset class.”

Cardano is trading at $0.54 at the time of writing, while Solana is trending in the $41 territory.

Featured image from Bitpanda Blog, chart from TradingView.com

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