TechFlow news: Three former executives of Revolut have launched a cryptocurrency trading app called Neverless, offering zero-commission trading and automated investment account services. The team raised $6.7 million in Europe's largest pre-seed funding round to date and has already registered with Spain's Central Bank as a Virtual Asset Service Provider (VASP).
Neverless supports euro deposits, and certain cryptocurrencies such as Bitcoin can automatically generate daily interest. Its market-neutral investment account, "Strategies," achieved an annualized return of 14.01% over the past 90 days. The platform uses automated strategies to scan markets in real time and exploit price discrepancies without needing to predict future prices.
Rita Riera, Director of Neverless Spain, said the product outperforms other platforms in terms of potential returns and flexibility. To date, Neverless has attracted thousands of users and recorded over $100 million in trading volume, with plans to focus on expanding in the Spanish market.
