Image credit: PalmaBot

The First Crypto Trading Tool in Hands of a Traditional Investment Institution in the World

By Luka Kapetanić on The Capital

Marko Vidrih
May 26, 2020 · 3 min read

It is a rare thing that a major financial institution partners up with a cryptocurrency startup. Yet, on May 4th, the cryptocurrency startup, PalmaBot announced a partnership with FIMA.

The finalization of the partnership agreement came as a crown jewel of almost a year-long communication between FIMA and PalmaBot which started at the Fintech Adria conference in Rovinj. Together, these two companies are focused on bridging the gap between the traditional and cryptocurrency markets. This is important not only for these two companies but also for the wider adoption of cryptocurrencies in general.

“The pioneering approach that leads FIMA and PalmaBot towards bridging new-age crypto and traditional financial worlds signifies a big step for the whole crypto industry. Whereas it proves to the traditional investment industry that there is no cause for fear of technical innovations,” Jernej Vrčko, the CEO of PalmaBot stated in the official release.

According to Vrčko, FIMA partnership gels perfectly with PalmaBot’s 4 main development pillars:

  • Real-Time Data Processing for Multi Exchange
  • Partnership with FKPV Business Faculty
  • Zero-Data App
  • Language-Based Button Driven Workflow
Image credit: PalmaBot

The CEO of FIMA, Milan Horvat shares an equal amount of belief in the end results of this partnership as he states:

“Usually, business collaborations are born out of mutual interest. Consequentially, partners get to know each other. However, our cooperation took an alternative path. First, we clicked and then realized that we can have a serious and fruitful partnership. Now, both of our companies are focused on connecting the traditional system of communication in the financial industry with new technologies in the search of the optimal balance between human and artificial intelligence. Our goal is clear — reaching the level of mutual understanding with clients as we had when we started our cooperation.”

PalmaBot makes it easier for crypto users to control their funds, which is essential for an average Joe, while the partnership with such a reputable traditional firm is a step towards bringing its service closer to traditional investors, tempting them to open different, innovative horizons.

FIMA isn’t PalmaBot’s First Major Partnership

Spearheaded by Vrčko and Gregor Boltar, PalmaBot partnered up with another major institution. The PalmaBot’s duo held a lecture at FKPV (Faculty for Commercial and Business Sciences) in Maribor, Slovenia, on February 20th, 2020, which was triggered by the agreement with this significant government’s educational institution in November 2019.

It seems that the PalmaBot team surrounded themselves with some formidable partners in their quest for bringing ultimate user-friendliness to the cryptocurrency market and connecting it with its traditional counterpart.

PalmaBot is a Slovenian-German product in charge of the Telegram-based digital assets management tool. Through a simple Telegram’s interface, this product enables users to seamlessly control all their crypto assets across 23 exchanges. In the same Telegram chatbot users utilize to manage their cryptocurrencies, PalmaBot also follows arbitrage opportunities in real time, provides trading signals, enables TradingView strategies execution and presents instant charts with many possible orders — all that with intuitive user friendly UX.

Their Croatian partner, FIMA is a well-known traditional investment institution with a 25-years-long track record across the foreign and domestic financial markets. Moreover, it is an investment firm with the longest tradition in Croatia and the founding entity of the stock exchange in Varaždin.

FIMA, as the pioneering traditional investment organization that made regulated crypto investments possible to their clients, was, therefore, a logical partner for PalmaBot.

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