Douugh launches automated micro-investing on US shares and BlackRock portfolios

Rick Steves

“”Douugh will deploy a phased approach to optimise product growth and expand solutions, with the goal of fostering customer love for the product in order to stimulate viral growth with predominantly gen-z customers in the early stages.”

Douugh has announced the launch of its micro-investing product that allows Australians to build long-term wealth on autopilot.

The ASX-listed fintech company’s micro-investing service includes embedded automation and intelligent services to streamline money management.

Six diversified portfolios by BlackRock

As the investing platform rolls out the service, phase one will see Australian residents setting up a recurring micro-investing savings plan through Douugh’s proprietary Autopilot feature.

This plan involves investing in risk-weighted, diversified portfolios managed by BlackRock, as well as thousands of US shares, all of which are rated for sustainability.

Users can choose from six diversified portfolios, each tailored to their risk level, giving them almost instant exposure to a vast array of global companies and assets managed by market leader, BlackRock. For just $1, users can invest in their preferred portfolios or companies with the flexibility to invest as much, or as little, as they choose.

“Phased approach to optimise product growth and expand solutions”

Andy Taylor, Founder & CEO at Douugh, said: “Currently, many Australians are feeling stressed about their finances. As interest rates increase to combat rising inflation, people are experiencing erosion in the value of their money and investment gains. In a time of such great economic uncertainty, it is the right time to lean into our core responsible micro-investing service, which will help everyday Australians adopt sustainable money habits to live financially healthier lives.

“We are delighted to announce the official launch of the first phase roll-out of our Australian platform, and through a seamless customer investment experience and education, we aim to help Australians achieve financial independence. Our experience and existing technology will allow us to build a financial platform that provides key financial services all in one place, delivering sustainable revenue growth for our shareholders and a clear path to cash-flow breakeven.

“Douugh will deploy a phased approach to optimise product growth and expand solutions, with the goal of fostering customer love for the product in order to stimulate viral growth with predominantly gen-z customers in the early stages.

After dealing with the delays resulting from the closure of Volt Bank, we are now firmly on track to deliver the reimagined card & account product in Q4, which will unlock the growth potential for the business by giving us a truly unique, mass market value proposition in the market in which to challenge mono-line incumbents and win customers, supported by B2B2C partnerships.”

Read this next

Digital Assets

FINMA-regulated crypto bank SEBA Bank rebrands to AMINA

“As we look forward to 2024, our ambition is to accelerate the growth of our strategic hubs in Switzerland, Hong Kong, and Abu Dhabi, and to continue our global expansion, building on all the successes we have laid down over the past years.”

Retail FX

Good For New Traders: Free Crypto Sign Up Bonus No Deposit Required

In cryptocurrency trading, where innovation knows no bounds and the stakes are as dynamic as the digital assets themselves, the concept of no-deposit bonuses comes off as an enticement both for old and new traders. 

Digital Assets

Binance announces banking triparty agreement

“We’ve developed a solution that ensures our institutional clients can optimize their collateral and cryptocurrency investments, modeled after the traditional markets’ trading conduct. We are in close discussions with an array of banking partners and institutional investors who have also expressed strong interest in participating.”

Digital Assets

CoinEx fined $2 million in Québec, Canada

“This new decision follows the important decision obtained in earlier this year and is part of the AMF’s offensive against crypto asset trading platforms operating illegally in Québec that have not entered into pre-registration undertakings.”

Industry News

FINRA fines BofA Securities $24 million for spoofing in US Treasuries

BofA Securities failed to detect spoofing due to inadequate supervisory systems. These systems were not equipped to identify manual spoofing by traders.

Retail FX

Belgium regulator blacklists FXP360, Appex Finance, and Wise-Markets

Belgium’s financial watchdog, the Financial Services and Markets Authority ‎‎(FSMA), has issued a warning against the unauthorized activities of multiple ‎ platforms that are offering investments in the country without ‎complying with Belgian financial legislation.‎

Digital Assets

MicroStrategy piles on Bitcoin, acquiring 0.90% of circulating supply

MicroStrategy, the world’s largest Bitcoin corporate holder, has further increased its holdings of the primary cryptocurrency. According to a recent filing, the company acquired an additional 16,130 bitcoins between November 1 and November 29, spending $593.3 million at an average price of $36,785 per bitcoin.

Digital Assets

Paxos gets nod to issue dollar-backed stablecoins in UAE

Stablecoin issuer Paxos has received preliminary approval from Abu Dhabi’s Financial Services Regulatory Authority to issue U.S. dollar-backed virtual currencies and provide crypto-brokerage and custody services.

Digital Assets

Flare Labs Begins Testing FAssets on Coston Testnet Paving Way for Non-Smart Contracts to Flare

Flare Labs has introduced FAssets on the Coston testnet, enabling the integration of non-smart contract tokens like BTC, XRP, and DOGE into the DeFi ecosystem.