AQRU plc, an incubator specializing in decentralized finance (DeFi), announces that its wholly owned subsidiary, Accru Finance Ltd., has entered into a partnership with Sweden’s crypto company Quickbit eu AB (publ), in order to “bring its yield generating products to a wider audience.”
Quickbit is Sweden’s crypto company, which is “dedicated to increasingly integrating cryptocurrency into people’s lives.” The company has “launched the Quickbit Card, an innovative cryptocurrency debit card that allows everyday purchases to be made with cryptocurrency; and the Quickbit App, which allows the buying, selling and storing of eight cryptocurrencies including BTC, ETH, USDC and ADA, as well as allowing customers to generate returns on their held crypto.”
Accru Finance’s yield-as-a-service API has been “seamlessly integrated into the Quickbit App, bringing its customers Accru Finance’s impressive returns from its DeFi products.”
This partnership “continues Accru Finance’s mission to allow retail investors to take advantage of all the opportunities in DeFi.” By offering its products to Quickbit’s customers, Accru Finance intends “to expand access to its DeFi ecosystem and offer its competitive DeFi yields to an increased customer base.”
Digby Try, co-founder of AQRU said:
“The partnership with Quickbit is a significant milestone for us in our mission to strip the complexity from the crypto universe. We set out to make building a balanced crypto portfolio a reality for all investors and being able to benefit from curated high-yield opportunities is a major part of this. Our partnership with Quickbit enables us to share that vision with a wider audience and continue our path to achieving that goal.”
Hammad Abuseifan, CEO at Quickbit, said:
“Through this partnership with AQRU, we are able to offer our Quickbit App users a DeFi solution that creates more value throughout our ecosystem of crypto products. Our mission to simplify the use of crypto and integrate it into the everyday lives of people by offering safe and easy-to-use products is well in line with the values of AQRU.”
As noted in the update, AQRU is “an incubator specializing in opportunities in decentralized finance (DeFi), a disruptive technology using blockchain and cryptocurrencies to remove financial intermediaries from transactions, creating a cheaper, more efficient and more secure way of providing financial services.”
Listed on the Aquis Exchange in London, they apply their expertise “to the business operations and strategic plans of FinTech companies in the UK, USA and Canada, and act as an accelerator for start-ups and early-stage companies.”
As mentioned in the announcement, Quickbit is “a Swedish fintech company, founded in 2016 with the goal of making the integration of cryptocurrencies into the everyday lives of people and companies smoother.”
Quickbit offers safe and easy-to-use products “for e-merchants as well as customers.”
With a transaction volume to date in excess of €900 million, Quickbit has already “enabled and empowered individuals around the world, through the use of cryptocurrencies.”
Quickbit has been “listed on NGM Nordic SME since July 2019.”