Technology

Lydia launches a service to invest in stocks and cryptocurrencies

Lydia, the financial “super-application” that positions itself as an “over the top” banking service, announces on November 22 a new stage in its diversification with the launch of a trading platform for individuals. This new service, created thanks to a partnership with Bitpanda, will allow you to invest in French, European and American stocks, ETFs (investment support that replicates a stock index), precious metals (gold, silver, palladium, platinum). , as well as cryptocurrencies (bitcoin, etherum, USDC, tether …).

Eliminate friction points

True to her promise to make finances easier and more accessible, Lydia wanted her product to be unrestricted. All business functionalities are integrated into the Lydia application and will not require new supporting documents. The money held in Lydia’s checking accounts can be used directly for investment, without the need to create a securities account like in a bank. Transactions can be carried out in real time 24 hours a day, regardless of the opening of the stock exchanges.

Regarding the pricing model, it follows the “all-inclusive” logic. The asset price includes the distributor’s remuneration, far from the classic price complexity of investing in financial products.

Invest from 1 euro

Last peculiarity, Lydia’s offer allows you to invest from 1 euro, thanks to Bitpanda’s fractional investment system, which allows you to buy a fraction of a share. “To think that we can invest money in a large French energy group, for example, with the money of a beer that they have reimbursed us, that is the spirit of Lydia,” says Antoine Porte, product manager and co-founder of Lydia. , which originally entered the market to repay sums of money between friends through mobile payment.

This fractional investment system is based on the issuance of an intermediate financial product (derivative contract invested in the underlying, held by Bitpanda). Lydia and Bitpanda are remunerated on the spread (the price differential between the price at which the client’s order is placed and the one that carries out the transaction by the intermediary) when it generates a capital gain, the technology being used to limit the spread of risk .

Almost the entire range of bank offers

Lydia’s free offer allows you to make 20 transactions per month, all services included, including trading. For a more intensive use, the application offers monthly subscriptions at 4.90 and 7.90 euros. On average, users make two to three transactions per month.

Lydia has expanded its banking services offering in recent years, with current account offerings (more than 2 million have been opened), credit cards, debit cards and savings accounts. The assets are confined to the company’s banking partner, BNP Paribas. Because Lydia can provide banking-type services, it is not a bank. The company is Registered with the regulator as an agent in banking operations and payment service. All of their service building blocks come from partnerships with other fintechs (Treezor, Younited Credit, Floa Bank, etc.), such as the service offered with Bitpanda.

The Austrian platform Bitpanda, which is one of the financial providers that has obtained the PSAN (digital asset service provider) authorization from the AMF, recently launched its BoBtoC offer, to give fintechs access to its investment platform, which since its launch has expanded its offering. , initially restricted to cryptocurrencies.

Encourage young people not to let their money sleep

The Lydia app is used by 5.5 million customers, 80% of which are French. It has been installed by 30% of young people aged 18 to 35 in France, according to their own figures. This age group represents the majority of its users, and it is also the one with the highest growth. With the new commercial service, the Paris-based company hopes to convert more customers over 40.

“When we see, on the one hand, the enthusiasm of young people for stock investments in France and for cryptocurrency trading in the United States, and on the other hand, the astronomical sums that sleep in current accounts, we tell ourselves that the exchange of Money between individuals, which we have demystified, can be the gateway to investment. The key element is easy access, within reach. This does not mean that we want to encourage investment at all costs. To inform clients’ choices, we show asset performance in the last 12 months, which gives a good overview of volatility, ”explains Antoine Porte.

During the first lockdown, 150,000 new investors bought shares of the SBF 120, according to AMF. The markets continue to attract newcomers, 400,000 in the first quarter of 2021. As for the latent liquidity in the checking accounts of the French, the Banque de France estimates that they have increased by 58,000 million euros in the first three quarters of 2021 up to a total of 757,000 million euros. A jackpot coveted by fintechs and traditional financial players alike.

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