Hedgehog launches as a crypto robo-adviser app with Gemini as its custodian.
Hedgehog, a robot advisor that provides automated financial guidance for investors in cryptocurrency, has launched as an app on both the iOS and Android platforms, the company announced on Wednesday.
The app allows investors to manage their crypto portfolios and provides advice on when to rebalance their holdings or rearrange their investments. It offers six so-called stacks, or diversified portfolios of related cryptocurrencies, that users can invest in similar to an index fund or exchange-traded fund.
However, while investors in an index fund own shares in the fund, Hedgehog users own the assets in their stacks directly. Their funds will be held on the crypto exchange Gemini, which is the integrated custodian for the app. Self-custody support could become available down the line, the company said.
The six stacks are Total Crypto, Satoshi, DeFi, ETH Network, Layer One, and Yield Farming.
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Hedgehog Technologies, the parent company of Hedgehog Advisers, raised $1.6 million from companies including Y Combinator and Dragonfly Capital to build the platform in 2021. The platform is registered with the U.S. Securities and Exchange Commission (SEC), which requires users to go through an identification, or know-your-customer (KYC), process.
Edited by Sheldon Reback.