The Solvo app is available for download on the App Store for users in the EU and the UK at the time of writing, and it was designed to offer a straightforward, transparent and easy-to-use entry point for users who are curious about crypto but have not yet made a commitment. In essence, the app can help users to purchase easy-to-understand financial products while deepening their understanding of cryptocurrencies and blockchain technologies.
451 Research conducted a survey in 2022, which revealed that 32% of non-crypto users had not participated in trading cryptocurrency due to a lack of understanding of blockchain. Moreover, 26% of users stated that crypto is too complicated to purchase, and that is why they’ve refrained from trading.
Solvo representatives expressed in the company press release that current product and service offerings used to invest in crypto assets are too complex, which means that they can be intimidating to new users. The app was designed to minimise clutter and provide three clear and focused products, namely bundles, vaults, and NFTs.
More details about the app’s core products
With bundles, users can access pre-selected sector-specific tokens without having to conduct research and choose from thousands of projects and tokens before investing. Users can choose what category they wish to invest in, such as blue-chip crypto projects, DeFi, or Metaverse & Gaming.
The vaults system allows users to earn a yield depending on how much they’re willing to risk. Users just need to deposit fiat and select what token they want to earn in. Solvo then looks for the best protocols and investment opportunities and connects to them for the user. Available options include ADA, NEAR, and MATIC.
App customers can also leverage an AI system to generate their own NFTs. The AI requires a written prompt that describes the desired image, or it can create personalised NFTs based on user-uploaded images. These NFTs can also be minted on-chain for free on Optimism.
When it comes to buying, selling, and holding crypto, the Solvo app creates a curated list of the 10 best tokens. Clients can also leverage open banking and bank transfers in order to transfer money anywhere in the world, deposit and withdraw BTC and ETH, and deposit GBP and EUR.
In January 2023, Solvo partnered with Fireblocks in order to improve the security of this crypto app. Fireblocks officials commended Solvo’s efforts to improve accessibility to crypto and decentralised finance and emphasised how the institutional-grade technology developed by Fireblocks can reassure clients when it comes to the safety of their assets.
