The venture capital and investment arm of the NEM blockchain ecosystem, NEM Ventures, has announced its first portfolio investment in Vimba, New Zealand’s largest crypto savings platform. After a successful launch in the UK in 2018, it has now expanded to Australia, Ireland, The Netherlands, and Germany.
Sam Blackmore, Founder, and CEO of Vimba said: “NEM is a quality, community-driven project, run by a passionate group of experts looking to improve the ecosystem and amplify the positive impacts of blockchain technology. This ethos speaks volumes to Vimba, and this collaboration will help us to expand into new regions and develop the platform further, providing a safe and trusted gateway to the new economy to everyday users, all over the world.”
Vimba was founded in 2014 and its aim is to allow everyday investors to be able to use cryptocurrencies in regular and smaller amounts. Vimba was formerly known as MyBitcoinSaver and it is based in New Zealand. It offers a simple way for all New Zealanders to invest small amounts in Bitcoin.
Director and Co-founder of NEM Ventures, Dave Hodgson, said: “This investment recognises the vision and value of Vimba in providing an on-ramp to fiat for the NEM community, and we are proud to be helping such a forward-thinking project scale sustainably. Vimba’s services are the beginning of a larger vision to build a crypto-first banking model, which could offer all the services expected of a fiat bank, encompassing earning interest on savings, collateralized debt, stable coins, and loans. We look forward to seeing what the project achieves in 2019.”
Nem was launched in 2015 and is determined to become an enterprise-grade blockchain. It has recently joined the Binance Info transparency initiative and already has a good number of unique projects on the Binance exchange. NEM is a peer to peer cryptocurrency. Its aim is to produce a system that can ”Plug and Play” out of the box. NEM is a blockchain platform that gives out a feed of updates on crypto projects on the Binance exchange. This aids traders and investors to make definite decisions.