EasyJet Founder Takes Flight into Crypto with New Bitcoin Trading App

EasyJet's Stelios Haji-Ioannou Launches easyBitcoin App

The founder of budget airline easyJet, Stelios Haji-Ioannou, is entering the cryptocurrency market with the launch of the easyBitcoin app. This new venture is a brand licensing agreement with the crypto exchange Uphold, extending the easyGroup's portfolio to include Bitcoin trading.

Democratizing Bitcoin Investment

Haji-Ioannou aims to make Bitcoin investment more accessible to the general public, addressing high transaction costs that he believes have historically excluded many potential investors.

"For too long, investing in Bitcoin has felt like an exclusive club, out of reach for the general public with very high transaction costs," Haji-Ioannou stated.

Competitive Landscape

EasyBitcoin enters a competitive market already populated by established crypto exchanges like Coinbase and Kraken, as well as fintech giants like Robinhood, Revolut, and PayPal. The app will enable users to buy Bitcoin and earn rewards on their investments.

Key Features

The app boasts a rewards system designed to attract new Bitcoin investors, including:

• A 1% welcome bonus
• A 4.5% annual percentage yield (APY) on USD balances

Market Context

Bitcoin's price experienced a surge following signals of a pro-crypto stance from the Trump administration. However, market uncertainty has recently led to some price correction.

Key Takeaways

• EasyJet founder launches easyBitcoin app to simplify Bitcoin trading.
• The app aims to lower barriers to entry for new crypto investors.
• EasyBitcoin faces stiff competition from established crypto and fintech platforms.

Uphold's Perspective

Simon McLoughlin, CEO of Uphold, believes easyBitcoin's rewards system will attract a significant portion of the population aware of Bitcoin but yet to invest.

“This isn’t just about technology; it’s about financial empowerment and making Bitcoin a practical investment option for all,” Haji-Ioannou said.