Cryptocurrency broker, Aplo Earn (formerly SheeldMarket) was launched today by Aplo. This new feature simplifies the process of generating cryptocurrency yields for investors.
A service that generates yield
Turned on and off with the click of a button, the Earn feature on Aplo’s platform generates interest for the user through a combination of internal lending and fully vetted external lending, through institutional desks and permissioned DeFi liquidity market, Aave Arc. The platform’s latest feature reduces risk and gives investors maximum control. It eliminates the need to move coins. You can switch between OTC trading accounts, OTC trading account lending desks, and Permitted DeFi. This feature allows investors to alternate seamlessly between trading and yield when using the Aplo platform.
Aplo users earn on their digital assets that are held in their Earn account every day, with unlimited withdrawal options. Going further on its commitment to make crypto simpler and more accessible, Aplo is also giving its customers the option to enter the platform with fiat, have it converted into digital assets and earned on by the broker, and then converted back into fiat seamlessly without any hassle.
Because Aplo is able to split assets between internal demand from trading firms, and multiple lending desks, this allows customers to take advantage of competitive rates on large allocations.
Speaking on the launch of Aplo Earn was Aplo co-founder and CEO, Oliver Yates: “Over the past six or so months we’ve seen rapidly growing interest in using crypto to replicate traditional banking services. Digital asset purchasers are no longer looking to simply buy, hold, and trade crypto assets, they’re also looking for new ways to use their existing crypto holdings to generate returns.
“By combining the leading prices we already offer with the ability to earn on digital assets, we’re ultimately providing our customers with a yield generating account – you don’t really even have to worry about crypto.”
“Given the current inflationary environment, institutional investors are under pressure to hedge against inflation. Regulated exposure to a whole new asset class – cryptocurrencies – is too attractive an offer to turn down. We’re not just offering crypto anymore, we’re offering a yield generating product with competitive rates of return.”
Access to digital asset trading via traditional finance.
With many professional investors still harbouring concerns around digital asset trading due to a lack of regulation, Aplo is an EU-based DASP under regulatory oversight and is the only licensed crypto broker for traditional financial institutions in the EU. This makes Aplo the perfect commercial partner for banks, fintechs, hedge funds, pension funds and other traditional financial institutions looking for a legitimate way to access the generational returns that cryptocurrencies offer.
Created for any business that has a spread portfolio approach to investing, Aplo is a regulated entity providing a zero-hassle setup: commercial partners can embed and customise Aplo into their platform, and connect to the API without having to obtain a local licence in the EU in order to attract European customers.
In October 2021, Aplo raised a $10 million Series A funding round led by Atomico as the company continues its journey to helping institutional investors buy and sell crypto assets in a regulated way. The fast evolution of Aplo into a fully-fledged cryptocurrency trading business is a key reason for its rebranding from SheeldMarket. “SheeldMarket was perfect when we started out because we were protecting information, but it no longer fully justifies our platform’s capabilities,”Oliver Yates. “Today we provide a gateway for traditional finance to access digital asset trading in a very simple way – a bridge from the old world to the new. Aplo – which means ‘simple’ in Greek – perfectly encompasses our present and where we want to be in the future.”