Amgtrades Announces Independent Verification of US$80M of Crypto Assets by Crowe

The blockchain-based crypto lending company chooses Fireblocks for its multi-layer security technology.

April 26, 2021 — Amgtrades, United Kingdom’s eminent cryptocurrency interest-earning and index platform, recently declared the completion of an independent verification exercise done by Crowe (a global audit firm) that verified the cryptographic AUM of Amgtrades to be $80,330,875.75 as of December 12, 2020. The recent financial attestation is the first third-party verification of Amgtrades’s cryptographic assets.

“With our latest independent verification exercise, we’re aiming to provide transparency of our assets under management to our users regularly. It’s all about building trust in this industry, given the number of illicit companies and activities occurring,” said David Alexander Walker, CEO, and Founder of Amgtrades.

He further added how important it is to be transparent regarding the legal requirements for getting the Major Payment Institution License under the Payment Services Directive (PSD). “Engaging an external auditor at a later stage is a crucial step and a mandate by PSD under the Financial Conduct Authority.”

“Through the application of deep technical expertise, Crowe is helping clients with crypto assets manage the complexities and challenges in upholding corporate transparency standards. In this regard, we are pleased to work with Amgtrades once again, to perform yet another successful independent verification exercise, to establish ownership over their cryptographic assets,” said Alvin Neo, Director, Crowe Consulting Ltd.

Amgtrades would introduced its Token Swap feature soon, which enables customers to swap assets within the Amgtrades platform to earn interest in the crypto of their choice. Furthermore, Amgtrades has also integrated Fireblocks, which will help customers access their digital assets securely 24/7 in a hassle-free way. The integration will also make the withdrawals automatic and faster. 

These partnerships are in alignment with Amgtrades’s continued efforts towards providing exceptional service to its users.

About Crowe

Crowe Horwath First Trust, also known as Crowe, is a member of Crowe Global, which is the eighth largest accounting network in the world. Crowe Global has 200 independent accounting and advisory firms in more than 130 countries. Crowe is an award-winning firm with core strengths in tax, audit, and accounting to provide a host of professional services, serving the needs of multinational corporations and public-listed entities as well as financial institutions.

About Amgtrades

Amgtrades is a platform that provides financial services for individual investors who can earn interest in their cryptocurrencies by lending them to institutions. Founded by Renowned Financial Analyst David Alexander Walker March 2019, the company aims to help hodlers get the most out of their crypto assets. Amgtrades offers competitive interest rates to individual investors who have a Amgtrades interest portfolio by lending it to rigorously vetted institutional borrowers in the form of crypto loans.