Gem Unveils All-In-One Crypto Investment App

NEWS
Annaliese Milano
Apr 19, 2018 at 16:00 UTC  |  Updated  Apr 20, 2018 at 03:05 UTC

Blockchain startup Gem plans to launch a comprehensive platform that will allow users to track, store, trade and discover cryptocurrencies on one app.

According to Gem - which has largely focused on enterprise products for companies like Toyota and CapitalOne since its 2013 inception - its all-in-one, user-friendly solution will "bridge the gap" between veteran crypto users and industry newcomers. The platform was officially unveiled Thursday.

"Since the beginning of the company, we've been trying to achieve a simple goal which is to push the decentralized movement forward to put more control and power in the hands of individuals," Gem CEO Micah Winkelspecht told CoinDesk, adding:

"We felt at this time in the market that we could make the biggest impact in the shortest timeline by going directly to the consumer to solve the problems we experience in the cryptocurrency market."

The company intends for the portfolio component of its platform to act as a "single entry point" for crypto investment management, initially integrating with 22 exchanges. Scheduled for public beta release in May, it will also allow users to manually track tokens held offline in hardware wallets.

The introduction of Gem's "universal token wallet" will follow in the summer, and will provide users with the ability to hold and trade bitcoin, ether and all ERC-20 tokens. The company intends to add support for other cryptocurrencies following the wallet's launch.

Gem will also seek to connect users with the wider crypto community through its "discovery tool," which will provide information about 1,500 tokens, and act as "a gateway to the broader cryptocurrency community" via features such as social media tools.

The company says it is committed to user-friendliness, and that it used data from surveys of crypto investors and "newbies" to inform the platform's design.

"We're all cryptocurrency investors at Gem," Winkelspecht told CoinDesk. "So we're very aware of the gaps in the market and we're excited to launch this platform to fill those gaps."

Wallet, bitcoin and phone image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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