BBVA launches New Gen, a type type of investment account for cryptos and stocks
BBVA Switzerland has announced the launch of a new type of investment account, called New Gen, through which it hopes to provide access to new themes of investments in stocks and cryptos as well.
The fund management companies around the world have been trying to come up with new products over the last few years to attract more users and also to ensure that they stay ahead of the competition as more hedge funds begin their operations in different regions of the world. We are also noticing a change in the attitude of the investors where they are tired of the usual investment policies and products and we are seeing a new set of investors who are looking for specific niche products to invest in. This has provided an opportunity for fund management companies to serve this need by coming up with products that involve specific latest themes and also instruments like cryptos which the new generation of investors are interested in.
Based on this, BBVA has come up with a set of 11 themes of investments that include fields as diverse as circular economy, robotics, autonomous vehicles, genetic research, etc which it hopes would be attractive to its clients.
“The New Gen account allows customers to invest in a positive, conscious, and committed way because at BBVA we believe that today’s investments are what will define the future,” said Alfonso Gómez, CEO, BBVA Switzerland.
The users also get access to a cryptocurrency wallet and can join any of these themes with investments as low as $10,000 or its equivalent and this has been thrown open to any user from around the world except for the US. This is in contrast to the approach of other banks that are trying to restrict the number of users entering into their various fund schemes by keeping the initial investment high. BBVA is looking to lower the entry bar in the hope that more users with specific interests would be able to enter into the funds and this would be a win-win situation for all. This would also bring in a lot of involvement from smaller investors and help the field to grow in due course of time. The investors would also be able to experience the full range of online services that are provided by BBVA and this would, in turn, help the bank to grow its business further.