BUX, an emerging European fintech company, has launched its zero-fee trading platform in Italy, further expanding its footprint in the continent.
Announced on Tuesday, it is the eighth European market where the fintech company has launched its BUX Zero app. The platform was first launched in 2019 in the company’s home country, the Netherlands. Then, it took the services to other European markets; Ireland and Spain were added to the list last year.
The app is tailored for both experienced investors, as well as beginners and is powered by its own back-end broker. Additionally, the platform is offering fractional investment into the equities market that might drive the retail demand further.
On top of that, the platform added support for trading cryptocurrencies earlier this year.
Growing Investment Sentiment in Italy
“Our presence in Italy comes against a backdrop of high inflation and dwindling trust in pension systems and traditional banks. That’s why it’s vital that Italian investors have access to an intuitive app like BUX Zero,” said Yorick Naeff, the CEO at BUX.
“We expect to appeal to a range of different users, from experienced investors attracted by our low fees, through to new investors, who are entering the markets for the first time. We’ll be here to guide them through the basics and give them the confidence to build a better financial future.”
Moreover, the Italy launch came when the demand for investment within the population of the country is rising. It highlighted the findings of a survey that revealed that 53 percent of Italians plan to start investing in the next twelve months.
Meanwhile, BUX is focused on strengthening its leadership. Most recently, the company hired the former ABN AMRO Clearing executive, Niek van Rens as the Chief Operations Officer. Furthermore, it onboarded Dan Zbijowski as the Chief Marketing Officer and Alvaro Vidal as Country Manager for Spain.
