Munich, 15 December 2021. Scalable Capital, a fast-growing online broker and Europe’s largest digital wealth manager, launches 'Scalable Crypto', a new offering for investing in crypto currencies. The offering merges seamlessly with the existing wealth management and neo-broker offerings. Via intuitive user interfaces for web and mobile, the company now offers easy, affordable and secure access to crypto investments via regulated stock exchanges in Germany. The offer is aimed at all investors who want to take their financial investment into their own hands and diversify a part of their portfolio with digital assets.
"We make trading crypto as easy as trading shares or ETFs," says Erik Podzuweit, Co-founder and Co-CEO of Scalable Capital. "Crypto currencies are well established as an asset class in a balanced portfolio. With 'Scalable Crypto', we are providing an affordable and intuitive offering to help even more people to enter the crypto world. The expansion is the next stage in our journey to become Europe's leading digital investment platform."
What's new about Scalable Capital's crypto offering is that the company combines the well-known environment of securities trading on an exchange with the new type of investment in crypto currencies, which is still unregulated in many ways. There is no need to open a separate wallet or the costly custody of the digital coins. With Scalable Capital, crypto currencies are simply held in the form of securities on the customer's existing custody account. Trading takes place on the exchanges of Xetra (Deutsche Börse) and gettex (Börse München) during regular trading hours. Features such as different order types, savings plans starting at 1 Euro savings rate on individual execution days and savings intervals are integrated in 'Scalable Crypto' from day one. In addition, there are new functions such as the display of crypto prices in real time and detailed information about the individual currencies.
Investors do not have to worry about correct taxation of crypto securities. This is done similarly to the taxation of shares or ETFs. The taxes are paid automatically by the custodian bank. (This statement no longer applies due to a legal amendment in 2022; profits and losses must be declared in the tax return under certain circumstances. Further information can be found at de.scalable.capital/en/trading-faq#faq_abwicklung.) For execution, the company relies on the established infrastructure of the Scalable Broker and Baader Bank. It is not necessary for existing customers to open an additional custody account or to identify themselves again. They can thus start trading right away.
The partner and product provider for Scalable Capital's crypto offering is CoinShares, Europe's largest digital asset investment company. With its exchange-traded products (ETPs) on crypto currencies, CoinShares provides seamless access to digital assets in a regulated and secure environment. Crypto ETPs hold the respective currencies such as Bitcoin, Ethereum & Co. in secured cold wallets at regulated custodians.
About Scalable Capital
Scalable Capital is a leading FinTech in Europe, bringing together people and technology-based investment. For private individuals, Scalable Capital offers digital wealth management, a broker with a trading flat rate, as well as overnight and time deposit offers. In digital wealth management, the company creates and manages globally diversified ETF portfolios for its clients with, if desired, sustainable investment strategies. The broker enables private individuals to trade shares, ETFs, Crypto ETPs, funds and derivatives themselves and to set up ETF savings plans. For short and medium-term investments without capital market risk, the company also offers access to attractive overnight and fixed-term deposit offers.
For B2B partners, Scalable Capital develops solutions for digital investment. Partners include the direct bank ING, the British Barclays Bank, Siemens Private Finance, the digital subsidiary of the Santander Group Openbank, Oskar GmbH, and Targobank.
The company was founded in 2014 by Erik Podzuweit, Florian Prucker, Adam French (each of whom worked for Goldman Sachs) and Professor Dr. Stefan Mittnik (Professor of Financial Econometrics (ret.) at the Ludwig-Maximilians-University of Munich). It now employs more than 330 people at its offices in Munich, Berlin and London and has more than €6 billion on its platform. Scalable Capital’s shareholders include, among others, BlackRock, Tencent, HV Capital and Tengelmann Ventures. Scalable Capital GmbH is an investment firm regulated by BaFin in accordance with § 15 of the German Securities Institutions Act (Wertpapierinstitutsgesetz - WpIG).
For further information, please visit: www.scalable.capital
Media contact
Ina Froehner
Scalable Capital
Head of Communications
+49.160.94.43.59.32
Kathrin Meyer
Finsbury Glover Hering
+49.160.53.60.965
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