Business 22 October 2018Rebecca Asseh
Millennial-focused money management app expands into crypto
Emma, a startup out of London offering money management services, has made its move into cryptocurrencies.
Last week, the firm announced that it has integrated several of the leading crypto exchanges into its platform, as part of its effort to help users gain a better understanding of their overall finances—including cryptocurrencies.
The Emma app, which is free to download, allows UK-based customers to check aggregated data from their credit cards and bank statements, in addition to their cryptocurrench holdings “in real time under one platform.” The six crypto exchanges now integrated into the Emma platform are Coinbase, Bittrex, Binance, Bitstamp, Kraken, Bitfinex, with individual BTC and ETH addresses added as well.
Emma’s CEO, Edoardo Moreni, said: “Emma was built to empower millions of individuals to live a better and more fulfilling financial life. Cryptocurrency is the next emerging asset class and we are thrilled to welcome it as part of our family of integrations. Our users can now manage and track their crypto holdings alongside more traditional finances to make wiser and more transparent decisions.”
Emma, registered in the UK with the Financial Conduct Authority under the Payment Services Regulations 2017, launched in January. Several months later, the startup raised £500,000 ($651,000) in a seed round led by Kima Ventures.
The startup aims to build a mobile-only banking app for millennials, one that will enable users to track their debts, avoid overdrafts, and save money.
Emma is trying to be a platform where users can get all of their financial information. The company described the functions of the app, saying, “In a few taps, crypto exchanges and individual addresses can connect to Emma enabling users to smoothly access their banking and investment information under one secure app… Users can now view live performance, track coins and tokens right from the app. This will be possible without ever having to manually enter a transaction again.”
Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.
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