by Kosta Tsilikovs and Kostas Poulakis for Crypto Coins article On the eve of a massive ICO (Initial Coin Offering) on August 6, the first-year head of Volvo Financial services group, Ralf Reuter, made a statement that is becoming a staple in the ICO world: “Cryptocurrency is one of the most important technologies in the automotive industry, which is why we’re very excited about the growth of blockchain technology in this sector.”
The statement was made during the unveiling of a new Volvo platform at a special conference held in Helsinki.
The company is planning to release a platform for cryptocurrency trading and the platform will integrate Ethereum (ETH), Ripple (XRP), Monero (XMR), Bitcoin Cash (BCH) and Zcash (ZEC) tokens into its platform.
At the moment, there is no word on when the platform might be launched in the Nordic countries, but it is expected to be a global offering.
Reuter was also asked about how the financial services group is looking to capitalize on the blockchain’s popularity and the potential to create a global platform.
“In general, we’re looking for new opportunities for financial services in a blockchain environment, which will help us to be able to provide better services in an integrated way.
And in particular, we have a lot of experience in blockchain and its development, which we hope to offer to our clients,” he said.”
We think that there are lots of opportunities in the blockchain space, especially in the financial sector, and it is not too early to start building our own platform,” he added.
He also stressed that the company’s focus is on helping its clients to make better use of cryptocurrencies.
“As a finance company, we want to be innovative, and in this context, we also want to build a platform to support our clients’ digital currencies, and we are looking to invest in new blockchain-based financial products.
We’re also considering the possibility of creating a token that will facilitate digital currencies trading on our platform,” said Reuter.
As we reported last week, the company plans to launch the platform in Sweden at the end of August.
According to a source familiar with the matter, the financial service group is exploring a number of opportunities including token sales, partnerships and licensing deals.
While Reuter’s statement may not have been particularly surprising to anyone, he made a number similar comments during his public announcement.
According the source, Volvo will offer trading in Ethereum and ZCash.
There is a good chance that these tokens will be offered through the platform as well.
“Volvo will offer token sales through the blockchain, where people will buy and sell them in the Ethereum and Bitcoin Cash markets,” the source explained.
“There are also partnerships and licenses in place.
We are also planning to license our token and start working with the finance industry,” the person added.
In addition to Ethereum and cryptocurrency trading, Volvo plans to offer digital currencies exchange.
The source confirmed that the financial institution plans to provide digital currency trading in the platform, but that there is a “long way to go” in this area.
“I’m not sure how it will work in the beginning.
We want to start working on this as soon as possible, but in the meantime, we are trying to get as much experience in digital currencies as possible,” the insider explained.
The platform will be available to all Volvo customers, but the financial group is not interested in offering cryptocurrency trading as it will take up valuable resources in the coming months, the source added.