Libertify, creator of an automated risk assessment and portfolio management tool for crypto investors, said it has won the chance to enter the grand finale of this year’s Hong Kong Fintech Fast Track, having beaten several other startups to the nomination at a semi-final event in Paris.
The startup describes itself as a “wealth tech company” and is led by its founder and CEO Steve Rosenblum, aimed at investors who want to protect their portfolios from the extreme volatility of the cryptocurrency market.
Libertify protects investors by simplifying and automating the trading experience. Users simply connect their exchange account or decentralized crypto wallet to Libertify’s app to take advantage of its “crypto seatbelt”. It allows them to benefit from a unique risk management tool that works by automatically diversifying their portfolio among volatile and stable assets, based on the user’s level of risk tolerance.
With Libertify, crypto investors can assess and adjust how much of each of their assets should be exposed to market risk, while leaving the remainder in a stablecoin asset to protect against price declines. Libertify adjusts the exposure of the user’s portfolio according to their risk profile, dynamically allocating assets based on the daily market risk.
The app does this in a clever way, exchanging user’s assets for an equivalent token. In the case of Bitcoin, instead of holding BTC the user will hold L-Bitcoin. In a blog post on Medium, Rosenblum explains how this works, saying these assets take into consideration how the market is changing each day and how much risk the investor is willing to take. “This makes the market more stable by 25%, meaning investors are less likely to give up, which makes them more aware of their finances and helps them reach their goal of financial freedom,” Rosenblum said.
Investors can take advantage of the market whenever conditions become more favorable. Libertify’s AI-powered alerts will notify users whenever it identifies an opportunity to make a profitable trade, or determines that action should be taken to protect against risk. For each alert, Libertify will also recommend the optimum sizing of each trade.
The promise of Libertify’s app has already helped it to raise €3.5 million in financing, and now the company is hoping to gain further traction with its participation in the 2023 Hong Kong Fintech Fast Track. The event, organized by Invest Hong Kong, a government department that promotes the territory as a leading business location, is now in its fourth year. It provides startups with the opportunity to scale their business and fast-track their success with access to prospective clients and strategic investors.
Libertify was named as the winner of the Paris leg of the Hong Kong Fintech Fast Track semi-final stage, and will be joined in the grand finale in November by 11 other startups. At the final event, startups will be able to meet with representatives of more than 80 “corporate and investor champions” and explore business opportunities with them. The corporate and investor champions come from some of Hong Kong’s most established and prestigious financial firms, including AMTD, AIA, Goldman Sachs, HSBC and Standard Chartered, as well as technology providers such as Tencent.
Libertify’s risk management app is already available for many of the world’s leading cryptocurrency exchanges, and will soon expand beyond crypto to traditional financial markets.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
