Do you want to buy a Ferrari, an expensive watch or other luxury products for your cryptocurrencies? The newly founded Swedish company Crypto Concinnity wants to make that possible.
Despite the fact that cryptocurrencies have become more and more popular in recent years, it is still difficult to buy things with them. This is something that the Swedish company Crypto Concinnity want to change. Their business model is to help people who own cryptocurrencies to buy things with them.
“Just like a concierge service in a hotel, with our service, you can order items that are then delivered to you”, says Romman Alham, CEO of Crypto Concinnity, to Trijo News.
The customer pays with any of the cryptocurrencies bitcoin, bitcoin cash, ethereum or litecoin to Crypto Concinnity, which in turn delivers what the customer wants. All this is achieved through a technology platform that can handle transactions from cryptocurrencies to regular money.
Focusing on luxury
To make money on their business, Crypto Concinnity will charge a five percent fee for the service.
“We’re focusing on luxurious products that cost a little more. It can range from watches and clothes to furniture and airline tickets”, says Romman Alham.
One of the investors behind the technology platform is Nordic Tech House, a company that invests in startups and that the well-known serial entrepreneur Isabella Löwengrip has founded.
In addition to Romman Alham, the founders of Crypto Concinnity are René Malmgren, who is one of the founders of the Swedish bitcoin association, and Peder Nilsson, who has a background in the telecom industry.
“We’re focusing on luxurious products that cost a little more.”
The actual concierge service was launched on May 17, but the company has more things in the pipeline. According to Romman Alham, they are currently in a three-step process. By the end of the year, the idea is that they will launch a debit card that the customer can use to pay with cryptocurrencies.
The company also has another product in progress that they call “the puck” and that they plan to launch this fall. It is a physical device that accepts cryptocurrencies as payment, something that would work well for, for example, shop owners, restaurants, and cafes.
“The idea of all this is actually to get more people to start using their cryptocurrencies, which they really are for, and not just sitting and hodling them. Even if it’s fun to see them grow, one also want them to get them out there”, says Romman Alham.