Finst is a an Amsterdam based cryptocurrency exchange. The firm is registered as a crypto services provider under the Dutch Central Bank. The firm prides itself in working with a custodial provider that is SOC 2 type II certified and uses MPC(Multi-Party Computing) technology with hardware isolation to create multi-layered protection. The platform provides crypto investments with 82% lower fees. The platform charges a 0.15% flat fee per trade as well as other numerous benefits including free deposits and withdrawals, no added spread, no inactivity fees, no custody fee and no minimum trade amount. Finst offers a wide range of carefully selected digital assets and other 40 plus major cryptocurrencies on a 24/7 basis.
To facilitate further expansion. Finst has raised $4.4 million in a seed fundraising round that was led by Sentilia – parent company of Deribit, a crypto derivatives platform. The funds derived from this event will be utilized in expanding the product range of Finst and radically simplify access to crypto markets for retail investors. The firm also plans to expand internationally with facilitation from the funds. The platform made a debut at the beginning of the year and since then it has acquired thousands of active users in the Netherlands.
Deribit is also backing the emerging Finst trading platform owing to its large influence in crypto derivatives. Deribit has the world’s largest crypto derivatives exchange with well over $750 million trading volumes daily. Finst is still very young and is looking to appeal to mass-market traders and investors.
According to Julien Vallet, the co-founder and CEO of Finst, Europe needs a first class cryptocurrency exchange that is highly secure and fully transparent. The platform is therefore, set to leverage its connection to the world’s largest derivatives exchange to make this ambition a reality.
The firm claims to offer maximum safety and trust in protecting the customer’s assets. It has formed partnerships with licensed custodians and Dutch banks that utilize industry leading security and compliance standards in all of their systems.
The firm is also offering unique features on its platform guarantee the safety of the users assets. One of the features is asset segregation where users’ digital assets are fully segregated from the company ensuring maximum protection if anything happens to the firm. Another feature is the use of a 2-factor authentication system that is enabled by default and includes the use of biometrics.
