2020 August Bamboo Update
We are pleased to share some big announcements and milestones that mark the beginning of an exciting new chapter of Bamboo’s story that we have been quietly progressing towards.
Bamboo was started to make investment effortless by ‘investing today’s spare change in tomorrow’. The vision makes it simple for anyone to get exposure to alternative investments like Bitcoin, Ethereum, gold or silver with just a mobile phone and bank account.
Almost three years on, we’ve achieved this vision and are humbled by the growth we have accomplished and the passionate support we have received from our amazing customers.
We continue to be excited about enabling you, our customers, to build a portfolio that is as unique as you are and love hearing about the investment journey each and every one of you is having with Bamboo.
To best position Bamboo as we scale up to deliver effortless investment to more customers, more markets and offer unique new opportunities, we’re excited to share that Bamboo has been acquired by a group of investors led by Perth-based by investment fund manager Digital Capital Management (DCM).
DCM, as early movers and believers in making the rapidly evolving digital currency sector accessible, have supported and backed Bamboo on its mission since its inception. Together, we continue to build on the project’s solid foundations and position Bamboo for further success.
New Management Structure and Equity Raise
As the project enters its next growth phase the business has undertaken a corporate and management restructure. Firstly, token seed investors have acquired, recapitalised and redomiciled the corporate structure to Australia. The token seed investors, led by DCM, are focussed on accelerating the product development, distribution and expansion into new markets. In addition, digital currency exchange group, Mine Digital, have invested in Bamboo and CEO Grant Colthup has joined the Board of Directors. This strategic investment aligns Bamboo with Australia’s fastest growing digital currency exchange and will provide access to Australia’s most competitive cryptocurrency providers. Mine Digital have provided Bamboo licensed and insured digital wallet infrastructure with BC Group (https://bc.group/en) in whom it is worth noting that Fidelity Group recently acquired a stake in. Mine Digital has strong international relationships and will be looking to bring additional strategic partnership to the business for the benefit of Bamboo customers.
Bamboo now available on Android, as well as iOS!
iPhoneX & Galaxy S8
We are thrilled to announce that the Bamboo App is now available to Android users. This has been a significant goal of ours and now our friends in the Android community can join their iOS counterparts in starting a crypto currency and precious metal portfolio the next time they buy a cup of coffee. We thank our beta users of the Android App for their feedback and assistance with the launch.
You can download the app via PlayStore at the following link while the iOS app can be found here.
Additional Banking Connections
Bamboo is pleased to announce the following additional banks have been added allow further options for Bamboo customers to connect to the App.
- Arab Bank Australia Limited
- Australian Military Bank Ltd
- Australian Super
- Construction and Building Unions Superannuation
- Defence Bank Limited
- First Option Credit Union
- G&C Mutual Bank
- Hume Bank Limited
- Macquarie Bank Limited — Active Banking (Business)
- Mecu Limited (trading as Bank Australia)
- MyState Bank
- Newcastle Permanent Building Society
- Orange Credit Union
- RACQ Bank
- RAMS (a subsidiary of Westpac)
- REST Industry Super
- Westpac Banking Corporation — Business Banking
We are targeting the integration of some Neo Banks in the near future, with Up Bank considered the highest priority.
With financial markets in turmoil and COVID-19 providing a strong push towards a cashless society, the investments that Bamboo currently offers have thrived. According to data from Yahoo Finance, the year to date performance (1 Jan — 16 Aug 2020) of the assets offered have been:
- Bitcoin — up 61.25% 📈
- Ethereum — up 226.43% 📈
- Gold — up 23.73% 📈
- Silver — up 48.57% 📈
Feedback of the app continues to be positive as detailed below by four of our customers. Remarkable returns have been achieved through combining Dollar-Cost Averaging volatile asset classes.
“Bamboo is amazing, its DCA (dollar Cost averaging) made simple, the perfect set and forget gateway to crypto and precious metals investing”
Aaron Rawlinson — Bamboo Investor
“Crypto, like most investments, can be risky and volatile. FOMO & hype are also commonplace. What I love about the Bamboo app is the ability to Dollar Cost Average without all the emotional attachments that come with investing, like trying to time the market. I never invest more than I can afford to lose, but I love the fact I can just “set & forget”, and carry on with life without worrying what the daily price action is. Bamboo is my security savings plan.”
Khyle Frost — Bamboo Investor
“Bamboo is great! I have been using it for over 6 months and I have seen my portfolio grow by 57%”
Carl Taylor — Bamboo Investor
“Discovering the Bamboo app has given me exposure to what I believed was out of reach. I was apprehensive as to how to start investing in crypto assets, but the platform has made it so easy. I now have round ups and additional monthly top ups and my portfolio has grown by 82%! Thank you, Bamboo!”
Renae Paunic — Bamboo Investor
Bamboo App Nominated for Design Award
Bamboo is proud to announce that we recently received a nomination from the Nominee Jury of the A’Design Award & Competition 2021. Linus Ekenstam has led the UI/UX design of the Bamboo App, with support from Peter Hume and Brian Foody. We regularly receive positive feedback from our customers on apps ease of use. We are honoured to have received the independent nomination for this award.
Revamped Token Structure
Bamboo remains committed token holders who have supported the project. The new Management Team are actively reviewing the BAM token integrated into the platform and are working towards announcing revamped tokonomics in the coming months.
Bamboo is accepting expressions of interest for regional partners who seek to explore opportunities in other jurisdictions. We believe that the time is right for Bamboo to start exploring these partnerships and growing outside of its Australian foundation.
Green Shoots at Bamboo
The Bamboo team is focused on continual development and product enhancements for our valued users. Your feedback has been invaluable and with this in mind we share with you our roadmap items for the next 6 months:
- Integrate with Mine Digital to provide wholesale cryptocurrency prices to our customers (August 2020)
- Enhanced Trading Reports (September 2020)
- Enable access and compliance requirements for Self Managed Super Funds (September 2020)
- Access to earn interest on your investments (December 2020)
- Advanced portfolio rebalancing (December 2020)
- Revamped tokonomics (December 2020)
Bamboo has been quiet in recent months however will be providing monthly updates henceforth.
Keep investing, effortlessly.
The Bamboo Team
18 August 2020
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About Bamboo (www.getbamboo.io)
Bamboo is a micro investments platform that allows anyone to seamlessly purchase digital assets, like Gold and Bitcoin. It’s an easy, secure, and effective way to participate in the blockchain revolution. All you need is a mobile phone and a bank account to get started.
About Mine Digital (www.minedigital.exchange)
Mine Digital is a digital asset exchange and brokerage firm. The exchange business aims to be one of the leading crypto-fiat exchanges in the APAC region and is developing a variety of derivative markets for both retail and wholesale investors. The firm is based in Sydney and Brisbane and is regulated by ASIC under the terms of its Australian Financial Services License (AFSL) authorisations and is an AUSTRAC compliant and registered digital currency exchange.
About Digital Capital Management (www.digitalfund.io)
Founded in 2017, Digital Capital Management (DCM) is an AFSL authorised Australian investment management business grounded in the belief that investors deserve an accessible, trusted, and knowledgeable partner to assist them in investing in the rapidly evolving digital currency sector. DCM is the investment manager of the Digital Fund which provides wholesale investors the opportunity to benefit from the rise of distributed ledger technologies and their economic impact.