Goldman Marcus Alum Launches Retail Investment Platform That Welcomes Stocks and Crypto
Adam Dell, the former chief product officer at Marcus Goldman Sachs, has launched a new crypto and equity platform to “enable investors of all levels of expertise to drive better results through access to emerging crypto revolution,” according to a press release.
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Domain Money, launched on January 25 and developed by members of the team behind Marcus, gives investors more control and access to stock and crypto trading, as well as actively managed investment strategies, insights real-time market, a proprietary social sentiment tool, and live customer agents, according to the release.
A Domain Money spokesperson told GOBankingRates that in addition to the ability to directly trade cryptos and stocks, some other differentiators with competitors include the fact that the platform is data-centric.
“We created a product called Signal, which provides a proprietary social sentiment score. It examines social media sentiment across various social media,” the spokesperson said. “We also track things like the health of the protocol by reviewing GitHub submissions from the blockchain developer community. Finally, we track the flow of funds into and out of exchanges, which is an indication of sentiment.
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The spokesperson added that the platform also gives customers the option to buy baskets of stocks and cryptos.
“These assets are managed by our investment team, drawn from Goldman Sachs and Bridgewater Associates,” he said. “For investors less familiar with this asset class, these strategies offer investors a thoughtful way to access the asset class. Thematically, we are interested in blockchain technologies that perform a basic banking function, such as DeFi money markets. »
Finally, he added that transaction costs for crypto “are also lower than competitors.”
Domain Money also announced in the release that it has raised $33 million from high-profile investors including Bessemer Venture Partners, Maveron, RRE Ventures, SV Angel, Marc Benioff, Joe Lonsdale and Elisha Wiesel. The company is advised by experts including Christopher Giancarlo, former chairman of the Commodities Futures Trading Commission (CFTC); Niall Ferguson, Principal Investigator, Hoover Institution; and Do Kwan, founder of Terra Network.
While the platform was launched amid a bloodbath for cryptos and Bitcoin in particular, which has seen its price halve since November, Dell told Bloomberg that the platform has “thousands of customers” registered. since the morning. “Short-term market swings in a bear market may deter some investors from participating, but more thoughtful investors will appreciate the opportunity” over the long term, he told Bloomberg.
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Bloomberg reported that when asked if the acquisition or IPO was part of Domain Money’s long-term plan, Dell said it was “focused on building a stand-alone business” with the ambition to provide comprehensive financial services that “meet the needs of sophisticated retail investors”. .”
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This article originally appeared on GOBankingRates.com: Goldman Marcus Alum Launches Retail Investment Platform That Welcomes Stocks and Crypto