after mobile payment, Lydia launches into trading

Becoming a trader on your phone is Lydia’s new promise. By the end of the year, 5.5 million fintech users will be able to invest in cryptocurrencies, rare metals, ETFs, or stocks.

I make you a Lydia? The replica has become cult. In the space of a few years, the Lydia mobile application has managed to carve out a reputation on the market for payments between individuals. But since its inception, the French start-up has considerably developed its range of services: bank card, microcredit, remunerated savings, split payment… And soon: trading.

From the end of the year, the young shoot should thus offer its 5.5million users to invest in more than 200 activeincluding around forty cryptocurrencies, but also four rare metals (gold, silver, platinum and palladium), ETFs, and shares of European or American companies.

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Ticket between 1 euro

To find a place alongside the brokers Robinhood, BUX and others in an already very competitive market, Lydia is betting on a ultra-simple interface utilize. No need, for example, to recreate an account or download a new application to start trading. Fintech allows its users to invest directly with their Lydia account verified.

It is just as easy to start investing: users can use the money from their Lydia account, and withdraw any winnings instantly. But above all, they will be able to invest in fractional shareswhich makes it possible to lower the ticket between 1 euro.

Until now, no financial management application offered this range of assets in which to invest, and certainly not from 1 euro. Telling ourselves that we can invest money in a large French energy group, for example, with the money for a beer that we were reimbursed for… That’s Lydia’s spirit. explains Antoine Porte, CPO and co-founder of Lydia.

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The golden age of trading

With its trading functionality, Lydia hopes to convince at least 200,000 customers by the end of 2022. The start-up – whose clientele includes a large majority of 18-25 year olds – intends to capitalize on the renewed interest of young generations in the stock market and, even more so, in cryptocurrencies. According to AMF estimates, more than 400,000 newbie investors would have tried trading for the first time during the 1st quarter of 2021.

However, this new service will have a cost. For each transaction, Lydia takes a commission less than 1%. The fintech will share its commission with Bitpanda, a digital asset service provider of Austrian origin, with which it is working in partnership for this project.

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