Sarwa, the UAE-based personal finance and investing platform, has launched cryptocurrency trading through its app. This move makes it easier than ever to centralize all different investments a client looks for in one app, from hands-off long-term investing to self-directed trading. Retail investors have been using the platform's trading product, Sarwa Trade, to buy and sell US-listed stocks and exchange-traded funds. Now, Sarwa Crypto will offer them a commission-free trading experience of Bitcoin, Ether, Litecoin, and Bitcoin Cash with zero transfer cost for AED local accounts, and tight spread.
Sarwa's offering comes as a response to its community's need and market insights with many retail investors looking to diversify their portfolio to include cryptocurrencies. A recent study showed that 33% of U.A.E. residents claim to have invested in cryptocurrencies and that they plan to allocate 25% of their investable assets into this asset class.
“Having access to investing in a simple, regulated and low-cost environment should be a priority and available for all in the region. There is a significant amount of interest around cryptocurrency in the GCC, even with the recent market development. Yet you didn’t have a platform that offered a centralized view of stocks, ETFs, and crypto in one safe, innovative and easy-to-use app. You do now.” said Mark Chahwan, co-founder and CEO of Sarwa.
“We are launching with the 4 most recognized cryptocurrencies - the ones that were amongst the first to emerge - to give a point of entry in a volatile market,” added Mark. “With virtual assets gaining ground and popularity, even authorities are seeing that the potential of the industry is immense and are making sure they create the right frameworks. With Sarwa, we want to provide our community with an app that allows long-term, hands-off investing, while also combining it with the option to make a few selective bets. We continue to deliver on our promise: giving everyone in the region access to simple, smart, and affordable investing in a secure space. Sarwa Crypto will offer just that.”
Sarwa's trading platform includes features such as daily and weekly investing news. Users can do fractional trading, create watchlists, as well as place limit and stop orders.