Cointree Announces Key Strategic Investment
MEDIA RELEASE | 19 August 2020
Melbourne-based cryptocurrency exchange Cointree today announced a significant strategic investment from Silicon-Valley-based data analytics company, Indicia Labs Inc. The investment aims to accelerate Cointree's growth and consolidate its market-leading offerings of providing cryptocurrency exchange services to the wealth management industry.
Cointree Managing Director Shane Stevenson said: “We are delighted to welcome Indicia Labs as a key investor and strategic partner. The investment gives Cointree access to world-leading patented data analytics software through Indicia Labs. It enables us to provide innovative cryptocurrency trading services that are a first to Australia. These new services will empower our customers to gain unique insights and achieve the best investment outcomes.”
As part of the investment, Indicia Labs founder and Santa Clara University Leavey School of Business Professor Gustavo Schwenkler will join the board of Cointree. “We are really excited to assist Cointree in achieving its vision of becoming Australia’s leading and most innovative cryptocurrency platform,” said Professor Schwenkler. “We are very familiar with the Australian and North American industry players and have watched Cointree build an impressive trading platform for its clients, with a particular focus on providing best-in-class services for the enormous Australasian wealth management industry. We see this as a great opportunity to support the Cointree team in providing unique and powerful new tools to its clients and, in due course, bringing these offerings to international markets. Together, we plan to grow the business to a whole new level built around a solid foundation of reliability, authenticity, and proprietary algorithms and insights,” continued Schwenkler.
Cointree has operated a trusted cryptocurrency platform and exchange in Australia for over 7 years. The company is entering a new chapter of growth and looks forward to announcing additional developments in coming months as it achieves further milestones. Indicia Labs’s investment enables Cointree's new initiatives and validates its position as one of Australia’s leaders.
Founded in 2013, Melbourne-based Cointree operates one of Australia’s leading cryptocurrency exchanges. Handling over AUD $170 million in cryptocurrency transactions, Cointree has built a platform that not only trades and holds Bitcoin but also over 100 cryptocurrencies, including Ethereum, Ripple, Bitcoin Cash and many others. Due to its secure technology and ease of use, Cointree has become the platform of choice for self-managed superannuation funds. See www.cointree.com
About Indicia Labs Inc.
Based in San Jose, California, Indicia Labs is a data analytics company that combines the power of artificial intelligence with the rigor of financial economic modeling to derive deep investment insights. Founded in 2019 in Boston, Massachusetts, Indicia Labs services span all financial markets, ranging from cryptocurrencies to equities, and are powered by patented machine learning technology. See www.indicia.io For an interview with either Cointree Managing Director Shane Stevenson or Professor Gustavo Schwenkler, please contact Jess Renden, Head of Operations | email@example.com