BUX Crypto product roadmap (Mar 2022)

Dear community members,

Throughout 2021, we’ve been growing extremely fast as the market surged to new highs. We focussed on integrating Crypto into BUX Zero and scaling our compliance processes so that we can further expand internationally. In this roadmap update, we would like to give a quick summary of all the developments and milestones we’ve completed and what is ahead of us in 2022. 

Fueled by our recent funding round of $80 million last year, there will be a massive shift of focus within BUX to offer more and more crypto-related assets and functionalities in the flagship BUX Zero app, which is very good news!

In January of this year, we managed to launch the first crypto assets in BUX Zero and currently we aim to add at least another 30+ additional assets this year.  

Additionally, BUX will be looking to raise another round of funding that will be used to fuel our journey to become the number one neo-broker in Europe, offering people the opportunity to invest in stocks, ETFs, and crypto all from one single easy-to-use app. 

Another major milestone of last year was that we were one of the first in the Netherlands that received a registration for crypto services at the Dutch Central Bank (DNB). Now that requirements for compliance and risk processes have become a major factor in the competitive edge of BUX, we will apply for many more EU registrations to further expand and help everyone in Europe do more with their money. 

Next to our hunger to expand the crypto functionalities of the platform and expand our reach internationally, we will also focus on further merging the BUX experience across platforms. This means that, eventually, all crypto trading functionalities that we currently have, plus more, will all be accessible in BUX Zero.

One of the key focus points for this year is to bring significant utilities to the BUX Token in BUX Zero. This is in line with our earlier strategy to support and build more DeFi (Decentralised Finance) functionalities like earning interest on crypto assets, staking, voting, governance, premium access, and more.

In this article we delve deeper into what the main product features are that we are building this year. Besides these key features, we will keep improving our product and services incrementally based on your feedback and wishes! 

1. New crypto asset listings (Q2 2022)

Last year we listed 30+ new crypto assets. This year, we are planning to add a lot more. The goal is to at least double our offering!

2. BUX Token utility model upgrade (Q2-Q4 2022)

Currently, the main utility of the BUX Token is that it gives BUX Crypto users the option to trade with 0% commissions (100% discount) when users hold 1,000 BUX Tokens or more in their portfolio. 

In the next iteration, we are introducing a more advanced token model that offers a broader range of incentives for our BUX Zero users. This is in line with our plans to have more crypto functionalities available in BUX Zero.

The new utility model will include the following utilities and can be unlocked by holding 1,000 BUX Tokens in your portfolio:

  • Trading fee cashback (receive 100% of the trading commission that you paid for buying and selling crypto, back in BUX Tokens as a cashback reward)
  • Increased interest on crypto assets (receive a higher yield on your crypto assets) 
  • Earn yield (receive a yield on your BUX Tokens) 
  • Governance and Collaboration (e.g. exclusive access to events, voting on product features, and quarterly updates)

In order to start simple, we will first introduce two tiers for the BUX Token (you either hold more than 1,000 tokens or not) that will help us release new utilities sooner. More tiers might be added in the future. We will first kick-off with the trading fee cashback, followed up by the increased interest on crypto assets and earning a yield on the BUX Token. In order to enable the two latter utilities, first the product feature ‘earn interest on crypto assets’ must be completed, described in point 3. The Governance and Collaborative utilities can be developed in parallel as not all of them require development of the BUX app itself.  

As the year progresses, more tiers and additional utilities might be added to improve the overall user-experience and economic incentive structure across the BUX platforms. It’s our goal to make the BUX Token utility model an integral part of the BUX business model. 

Additionally, next to the governance utilities mentioned in the list above, there will be an additional threshold for top BUX Token holders that gives special perks such as access to BUX annual shareholder events or Q&A access with a BUX management executive. The exact details will be shared in a dedicated update.

3. Earn interest on crypto assets (Q3 2022)

Next to listing new assets for trading, we are also going to support staking and earning interest on certain crypto assets, including the BUX Token. Next to making a return on trading cryptos, you can also earn a passive return by simply holding your crypto assets on your BUX account to receive daily interest!

4. Adding Crypto to the Investment Plan in Zero (Q3/Q4 2022)

Investing regularly over the long term is a great way of building up wealth and BUX Zero already offers a simple solution for that: the Investment plan. Instead of trying to time the market and guess the perfect moment to invest (which almost never works), you make a regular investment at the same time each week or month. When you do this, timing doesn’t matter too much. This is also called the “dollar cost averaging” effect. In Q3/Q4 2022 we aim to add Crypto to this feature in BUX Zero, so that you can invest in Crypto on auto pilot!

5. Merging Crypto and Zero accounts (Q4 2022)

Currently, the BUX Crypto web-platform and the BUX Zero app both offer Crypto trading, but you need two separate accounts to use them. By merging both platform’s accounts, you only need one account to operate your portfolio consisting of stocks, ETFs, and crypto. This is another big step in the direction of creating one seamless experience for our users.

Our vision is to build products and services that will allow our users to do more with their money. BUX also strongly believes that crypto is a completely new asset class that is here to stay, which is why we are offering stocks, ETFs and crypto trading all in one app as one of the few in Europe. 

Once we’ve launched all the features on this roadmap, we will continue to build more novel crypto functionalities in the future. For the end of this year and beyond, we are currently exploring what features could be valuable for our users so that they can take part in the rising crypto sectors of NFTs and the Metaverse. This means that the current roadmap for 2022 will be updated with additional features as the year progresses, because we cannot confirm these new features just yet.

If you want to stay up-to-date about our weekly progress, please follow us on Twitter, Telegram or subscribe to our newsletter by creating a BUX Crypto account.

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