Safello Expands Cryptocurrency Support with Chainlink
Stockholm, 25 November 2021 | Swedish fintech Safello today announced that it now offers Chainlink (LINK) to all its users. Chainlink has risen in popularity since the launch in 2017 and is one of the most well-known crypto assets today, ranking number 20 with a market cap of 12,4 billion USD*. Chainlink is a decentralized oracle network that brings off-chain data into an on-chain format, bridging the gap between the isolated blockchain and real-world data. Chainlink is built on top of the Ethereum blockchain and LINK is the native token of the protocol.
As of today, users can buy and sell LINK on Safello’s seamless platform by securely logging in with their BankID, simply pay with Swish and safely store their crypto in the Safello Wallet. Safello is proud to be the only Swedish company that currently supports Chainlink.
Expanding the support for additional cryptocurrencies is part of Safello’s strategy to lower the threshold and make the cryptocurrency ecosystem accessible to a broader public. Supporting additional cryptocurrencies attracts a wider target group and allows customers to tailor their crypto portfolio to their interest. For Safello, every cryptocurrency addition can add to the overall volume of the business. The long tail of the various cryptocurrencies therefore represents an interesting business opportunity that in aggregate can make a meaningful impact.
“We live in a multi-crypto world. While Bitcoin still has the largest market cap, customers demand wider support. Now that our wallet is out, we believe it’s the perfect time to expand the offering of cryptocurrencies in line with customer needs and to do so safely within Safello’s custody environment”, says Frank Schuil, CEO and co-founder of Safello.
Chainlink is available for buying, selling and storing in the Safello wallet when logged in on desktop but currently not via other channels. Deposits from and withdrawals for transfers to external wallets are not available at the moment.
For more information, go to safello.com/chainlink.
*Source: CoinMarketCap (2021-11-25)
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Safello is Sweden’s leading online cryptocurrency brokerage with the goal to make crypto accessible to everyone. Safello offers a secure way to buy, sell and store crypto in seamless transactions at industry-leading speeds. Operating in Sweden, Safello has been registered as a financial institution with Finansinspektionen (Swedish Financial Supervisory Authority) since 2013 and is listed at Nasdaq First North since 2021.