Over 5 million users
“I make you a Lydia“. The expression has almost entered everyday language as the payment application has met with success in France since its launch in 2013. And its growth continues: after launching a mobile payment service, consumer loan, a offering current accounts and even remunerated savings, Lydia tackles trading.
Since December, the five and a half million Lydia users have been able to invest in cryptocurrencies, precious metals, equity groups (EFT), or even invest in large European or American companies from the payment platform. This new option allows everyone to buy or sell many financial assets, easily and safely.
Simple and practical functionality
Like other Lydia services, this new feature is above all practical and easy to use. It is fully integrated into the classic Lydia application. In other words, you just need to have already downloaded the payment application on your smartphone and to have a verified Lydia account to get started.
And unlike other financial investment platforms, Lydia’s trading service does not require any additional ID or other proof, a verified Lydia profile with an up-to-date ID is enough. Even better, users can use the money in their Lydia account to invest in assets and sell at any time, regardless of stock market hours.
“To think that we can invest money in a large French energy group, for example, with the money from a beer that we were reimbursed for… This is the spirit of Lydia“says Antoine Porte, CPO and co-founder of Lydia.
A service accessible from 1 euro
With fractional investment (which allows you to buy a fraction of a share), the minimum amount necessary to invest is only …1 euro. “Until now, no financial management application offered this range of assets in which to invest, and certainly not from €1.adds Antoine Porte.
All individuals, whatever their budget and financial knowledge, can try the experience. “With this new trading service, our desire is to allow our users to choose what their money finances, and to invest according to their means: whether they are simply curious, novice investors, or seasoned experts.confirms Cyril Chiche, CEO and co-founder of Lydia.
Especially since, since the start of the health crisis, trading has attracted more and more individuals. Between February 24 and April 3, 2020, 580,000 new investors bought shares on the SBF 120. A craze that continues in 2021 since the Autorité des Marchés Financiers (AMF) estimated the number of new individual investors to 400,000 in the first quarter.
An alternative to the traditional banking network
Lydia offers a wide variety of investments, in partnership with the Austrian fintech BitPanda. This allows users to choose investments aligned with their values. This new financial service is highly secure and complies with all anti-money laundering standards.
Not to mention that the range of financial assets presented by Lydia’s new trading service offers prospects of higher returns than certain traditional banking products, such as the Livret A. And this, at the best market prices thanks to tight spreads.
The company thus continues to move forward in the wake of its initial vocation: to position itself as an alternative to the traditional banking network. With its trading solution, Lydia once again proposes to reverse the balance of power and give control back to users.
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