Kristal.ai Launches Cryptocurrency Kristals
Kristal Allows Indian Investors to Invest in Cryptocurrency without Actually Holding Them
Kristal.ai, an AI-powered Digital Asset Management Platform, has launched two Cryptocurrency Kristals, enabling Indian investors to invest in Cryptocurrency, namely BitCoin, and Ethereum, without actually holding them. Investing through Kristals is significantly cheaper as compared to other options available in India, as much as by 10-20%.
A Kristal is a portfolio to invest, of exchange traded assets, built using a sound investment strategy, sponsored by top portfolio managers across the globe. Options in investing in liquid, transparent, and exchange traded assets, including equity, exchange traded assets (ETFs), fixed income (Bonds), futures, and Cryptocurrency, is readily available on the platform. Each Kristal is evaluated and curated by a team of in-house experts, before being published, and is valued daily to ensure transparency.
Two Kristals are currently available on the platform for investors to choose from.
The ALTERNATE PERMANENT VALUE Kristal is a basket comprising a mix of Exchange traded Bitcoin Price Trackers 9, and Gold ETFs. The Bitcoin tracker is currently traded on the Stockholm Stock Exchange. Its original denomination is in SEK/ EUR. Initially, the allocation of the Kristal will be 70% Bitcoin Tracker One, and 30% Gold. Later on, the allocation will be rebalanced as per a set algorithm.
The CRYPTO Kristal is a basket comprising a mix of Exchange traded BitCoin Price Trackers, and Exchange traded Ethereum Price Trackers. The Bitcoin tracker and Ethereum tracker are currently traded on the Stockholm Stock Exchange. Its original denomination is in SEK. Initially, the allocation of the Kristal will be 50% Bitcoin Tracker One, and 50% Ethereum Tracker One. Later on, the allocation will be rebalanced as per a set algorithm.
Both Kristals allow investors to invest in price trackers, instead of actually holding the currency. This makes it a safer environment for investors who don’t want to get left behind in the Cryptocurrency game, yet would still like to apply some cautionary measures.
“It is important to realize that BitCoin signifies an emerging trend of Cryptocurrencies; and just like any trend, it can go through many volatile cycles. Hence it’s important to decide on a theme on why one wants to invest in it. So going about it systematically and thinking of it as alternative investment just like Gold or maybe even Real Estate is important. It’s always good to have an alternate currency in your portfolio, with the right objective, and not only speculation”, said Asheesh Chanda, Founder, Kristal.ai.
Supporters of Cryptocurrency have long been vocal about the fact that BitCoin, and others alternate currencies are not subjected to inflation, unlike flat cash. Many have argued that it is the reason for BitCoin’s steep rise. The limited quantity of BitCoin attracts more no. of investors, and drives its price ever higher on exchanges. It isn’t subject to monetary manipulation by central banks or government, and the limited circulation makes it a scarce commodity-money.
However, the cases against BitCoin and other Cryptocurrency have made their points as well. The most common reservation against Cryptocurrency is that it’s fairly new, and hence the rules of the game has not been laid down clearly, yet. Questions have also been raised about whether it’s overvalued, especially given its recent price run-up. But supporters of BitCoin, have been quick to point out the total stock of BitCoin is only $50 bio, and can increase to a maximum of 30%.
This is where Kristal comes in. It provides a safe, secure, and completely online investment environment for its investors.
“Bitcoins are moving away from the shadows and emerging as an regular alternate asset, even for real money, institutional investors. Kristal provides a safe secure access to this asset, through the Approved Offshore investment route. This is 10-20pc cheaper than bitcoin prices in India. You can now invest online into bitcoin price trackers directly through the Kristal platform” said Indradeep Khan, Business Head, India, Kristal.
Founded in January 2016, Kristal.ai is an online asset management platform giving investors access to independent advisers, and portfolio managers. Similar to an independent financial adviser, investors can pick and choose from the various strategies, called ‘Kristals’, of ex-traders and fund managers. Investors get real-time advise on which Kristal they should choose and they can invest in the strategy directly through the platform without any manual intervention.
With a minimum investment amount of $1000, the discretionary portfolios are managed by Kristal.ai’s team of Quant Analysts, who curate the ideas provided by the independent advisors. After the machine learning algorithm is developed, it will recommend the strategies to the analysts, who will then implement it in the client portfolios.
Kristal.ai is currently operational in India, Hong Kong, and Singapore.
In September, the Monetary Authority of Singapore (MAS) announced Kristal as a finalist in the Global FinTech Awards, to be held during the Singapore FinTech Festival, in November.
In August, Kristal was launched in Singapore under the Sandbox programme by MAS. It was the first ‘Asset Manager’ to be launched under the programme. Introduced in November 2016, Sandbox is a testing ground for new technology, enabling startups with the power of ‘going live’.
The company also completed a pre-accelerator programme backed by DBS last year, and is currently a part of Cyberport’s Incubation Programme this year.
Around The World