Investment firm GEM Global Yield LLC SCS, based in Luxembourg, gave Zignaly, a social crypto investing platform, $50 million (GGY). Zignaly plans to put the money to good use by expanding its reach across the globe.
Products and services offered by the crypto investment platform are aimed at making the cryptocurrency market more accessible to regular investors. Profit-Sharing, the company’s flagship offering, allows users to select from a list of expert traders and begin trading on autopilot by replicating their tactics. eToro and Robinhood’s copy trading approach to stock and currency trading is similar to this notion, but it goes one step further by replicating the methods of professional traders on crypto futures exchanges in real-time.
A business strategy that draws many newcomers is that the fees are paid only from the company’s income. More than 400,000 consumers have trusted Zignaly’s skilled crypto traders with over $120 million thus far. However, these numbers may not be relevant for long, as the site is adding 100,000 new members per month.
There are no obstacles to Zignaly’s global expansion. In the growth of this platform, Binance’s technology, liquidity, and market depth play a significant role. A total of $55 billion was traded on Binance’s futures platform on February 22, surpassing the volume of its following five competitors put combined. The fact that Zignaly is the only Profit Sharing platform to make use of Binance’s broker program makes this a sure bet for the startup.
Users of KuCoin and BitMex can also link their Zignaly accounts to those exchanges’ derivative platforms. A characteristic known as leverage makes crypto futures a popular choice for traders since they may take advantage of price changes without actually owning the underlying assets. Even in bear markets like the one we’re currently experiencing, futures trading platforms make it easy for traders to go short, i.e., bet on the price decrease, allowing them to seek profits even during bear markets like the one we’re currently seeing.
As an example, ZIGPAD, a launchpad-style incubator, was recently launched, allowing Zigcoin holders with little or no expertise in smart contracts to assist in the fundraising efforts of blockchain initiatives and cross-chain initial DEX offers (IDOs). One of Zignaly’s advantages is that it enables transactions and IDOs on a wide range of different chains, including the Ethereum and Binance Smart Chains as well as the Polygon and Solana blockchains.
GEM Global Yield LLC SCS invested $50 million after a $3 million private sale round headed by Parataxis Capital, an industry-leading multi-strategy investment group. Zignaly’s Zigcoin-powered NFT insurance system was the focus of a funding round in March of last year.