The success of Bitcoin, the most valuable cryptocurrency in the world, has not eluded many of its friends, who are either Investors, custodians, or affiliates of any nature. The digital asset, which saw its price shed more than $10,000 in one day barely three weeks ago, has shrugged off all the negativity of that period and is now looking strong again. However, that event and other similar events that have occurred with the cryptocurrency had led to a spike in its demand as usual. A spike in demand will mean that digital asset managers like River Financial will continue to see a spike in assets under their management.
River Financial carving a niche for themselves
River Financial, a famous FinTech company based in San Francisco, is now the latest to be smiled upon by the fortunes of Bitcoin. The Bitcoin custodians, who are known for focusing on old investors from 50years of age, now boast of $1 billion worth of assets under its management. The Fintech company founded by Alex Leishman in 2019 has recently also raised about $12 million in new funding set to see the business expand further beyond the United States’ shores.
Alex believes that it will be harder for old folks who are above 50years of age to correctly grasp the idea behind digital assets, hence why he opted to cater to old investors. That decision is looking like one that has paid off, as the FinTech company is now the toast of many in the crypto community. The FinTech company doesn’t only boast of vast assets under its management. It also boasts about 100,000 customers under its book, a remarkable figure considering that they are targetting a specific age group.
The new funding will expand River Financial services
In an interview with the press earlier this month, Leishman spoke of his company’s fortunes, as he believes that they are up there with their competitors, despite being less than two years old. The Executive believes that River Financial has been successful due to its ambition to build around Bitcoin solely. Leishman believes that it is elementary to be distracted, but the business has not subjected itself to such distraction, despite running on a rigid operation model. That focus, according to Leishman, has now made them a profit-making venture, something unusual with many startups.
The Executive also confirmed that the new funding which River had just gotten would allow them to operate beyond the 32 states in the country it currently operates in. The Executive also hopes that they get a license to open up in New York, as he believes space is one River Financial will thrive in. Leishman also spoke about comparing his firm to Banking giants like JP Morgan and Goldman Sachs, as he believes that while the comparisons are evidence that they are on the right part, River Financial still has a long way to go.