Kikitrade, the cryptocurrency social investment platform, announced a joint venture with the UK-based emerging market specialist Oxford Frontier to launch a digital asset trading platform for the Middle Eastern markets.
HONG KONG, Nov. 11, 2021 /PRNewswire/ -- Kikitrade raised a total of $12M in 2021 to accelerate its growth in the APAC markets, backed by investors from the likes of British hedge fund billionaire Alan Howard, Dragonfly Capital and blockchain gaming unicorn Animoca Brands. It progresses forward with an aim to popularise digital assets adoption among everyday people, particularly the Generation Z, millennials and non-finance professionals.
Spearheaded by the UAE and Bahrain, the Middle East region is developing increasingly favorable regulatory regimes for digital assets to attract technology talent and enterprises. With the speedy development of Metaverse and broader acceptance, blockchain-based assets will become an important driver of the next wave of financial technology.
Kikitrade aims to provide a cryptocurrency investment platform and to create an "interactive and educationable" in-app community by integrating social and gaming elements to the platform. Whilst Kikitrade will focus the product and technical development for the retail investors in the countries, Oxford Frontier will secure local licenses and localise the platform with its solid knowledge and network in the Middle East, and expertise in the areas of online trading, capital markets, and blockchain. Kikitrade and Oxford Frontier will deeply synergise after the formation of the joint venture.
Muhammad Ali Khwaja, the CEO of Oxford Frontier, said: "We are encouraged by the regulatory initiatives in the Middle East and we think Kikitrade would be the ideal platform, especially for those investors who are new to digital assets, especially the Generation Z. We are delighted with our partnership with Kikitrade. We will be looking to hire a technology and sales team to accelerate its market expansion."
Allen Ng, co-founder of Kikitrade, said: "The Middle East has become that provides an outstanding roster of customers with a friendly regulatory environment for digital assets. Kikitrade will extend its product and technical development expertise to set foot in the Middle Eastern markets. We are excited to join Oxford Frontier in this venture which has deep knowledge of fintech businesses and the Middle Eastern markets."
Kikitrade is a social investment platform that allows beginners to purchase and manage digital assets at ease, with a minimum investment amount of just US$1. The company was incubated by Everest Ventures Group (EVG) in 2020, a digital assets group that has participated in many renowned blockchain projects. Kikitrade strives to be the most secure and user-friendly gateway for millennials and first-time investors to start their crypto investments.