‘Overwhelming’ Demand Leads Singaporean Financial Markets Monitoring Startup to Add Bitcoin
Call Levels, a Singaporean startup providing real-time financial monitoring and notification service on the mobile cloud, has added bitcoin prices from itBit following "overwhelming request from users."
"We’ve had numerous requests from people who are still holding on to bitcoins," Cynthia Siantar, co-founder of Call Levels, said. "The moment they saw Call Levels' offering for its existing users who typically trade stocks, forex or futures, they wanted the same for bitcoin."
Call Levels, which refers to an industry term that means "call me when the price hits a certain price," currently covers more than 5,000 assets, including US equities, Forex and Futures, and aims to provide quality feeds directly from exchanges.
For bitcoin pricing data, Call Levels picked itBit, a global bitcoin exchange and the very first to be approved as New York State Trust company, following the lead of Bloomberg.
"Bloomberg also started tracking bitcoin pricing data from itBit on its terminals that have more than 320,000 subscribers," the company said.
Sharing her views on bitcoin and the blockchain technology, Siantar told Cointelegraph:
"I think the blockchain technology is very interesting and there is a lot of potential for it. But the crytocurrency used doesn't have to be 'bitcoin.'"
Hence, she noted that financial institutions are already stepping in with "their own versions," like "Citibank with their 'Citicoins' for example."
Earlier this month, Citigroup made headlines when the banking giant revealed that it had developed three blockchains with its very own 'Citicoin' token.
Meanwhile, Call Levels is looking to raise a US$500,000 bridge round to boost growth and development.
Its previous fundraising, a US$140,000 angel funding round, was led by former JP Morgan executive Timothy Lee. Other undisclosed hedge fund managers have also placed their bets on the Singaporean startup.
Incorporated in September 2014, Call Levels currently serves some 6,000 users who have created 20,000 actives call levels.
"We aim to keep the app for free to our users, because we recognize the need to democratize finance in that way," Siantar said. "But [we are] working on revenue generating partnerships with financial institutions who would like to offer this service to their clients."
Call Levels had already been approached by several financial institutions and is expected to sign two large deals very soon, according to co-founder Daniel Chia.
- Taqin Jamil (Head of Design), Cynthia Siantar (Co-Founder) and Daniel Chia (Co-Founder)