StackinSat obtains PSAN status and launches the “Bitcoin Savings Plan”.

Co-founded by Jonathan Herscovici and Josselin Tonnellier, StackinSat’s mission is to contribute to the development, expansion and popularization of Bitcoin in France and Europe.

StackinSat’s conviction is that Bitcoin (BTC) will be indispensable in the coming years and that it represents above all a valuable reserve that allows the company to diversify its assets before being used more globally, especially as a means of payment.

“We offer a simple and accessible savings product for French, Swiss and Belgian savers. We are also seeking to democratize Bitcoin and make it more accessible. Most people don’t know much about Bitcoin. Our mission is to change the mindset of the general public so that they can understand the enormous long-term potential of Bitcoin,” said Jonathan Herscovici, co-founder and president of StackinSat.

As such, StackinSat offers what it calls the “Bitcoin Savings Plan,” a service to purchase Bitcoin on a regular weekly or monthly basis, starting at $10.

A true investment strategy in its own right, the DCA for “Dollar Cost Averaging” allows you to smooth your entry point and reduce the risk of your investment, especially in the face of Bitcoin’s price volatility.

“StackinSat clients will benefit from an effective alternative to traditional financial investments that have seen their returns decline over the last few years, such as the Livret A passbook and the Euro life insurance fund,” the team said.

The use of the “Bitcoin Savings Plan” service has been simplified to the maximum in order to accompany all savers towards investment in Bitcoin. In addition, StackinSat integrates a simulator to visualize the historical performance of the Bitcoin version of the Livret A savings account according to an amount and a frequency.

StackinSat Bitcoin Savings Plan Simulator

When a StackinSat customer uses the service, the CTOs they purchase are delivered directly to their wallet. Thus, StackinSat does not keep its customers’ bitcoins and is therefore non-custodial (this functionality is expected to be available in 2021).

Recurring and one-time purchases via the “Bitcoin Savings Plan” are subject to a 1.5% fee in Euro. The purchase of BTC will be offered with the same fee in the near future.

In order to keep costs as low as possible, payment is only made by SEPA transfer (free of charge) and all banks in the SEPA zone are accepted.

Available at its launch in France, Switzerland and Belgium, StackinSat sees bigger and plans to conquer the European market in the coming years.

To help finance a large European marketing campaign and to recruit about ten people (technical, legal and marketing team), the startup plans to start a fundraising process in the course of 2021.

By the end of 2023, StackinSat hopes to convince at least 20,000 regular savers on a strategy that is both B2C (direct customer acquisition) and B2B2C (customer acquisition through partners) with an average Bitcoin Savings Plan between €100 and €200 per month.

Certainly, a continent-wide launch should enable StackinSat to achieve this goal without major difficulties, especially since a new DCA solution for Bitcoin investment was widely expected in the crypto-sphere.

The Biarritz-based fintech is notably the first company that has not yet started its activities to obtain the status of Service Provider on Digital Assets (PSAN) on September 29, 2020 from the AMF. StackinSat has already won over the local regulators and will undoubtedly be able to obtain the approval of other jurisdictions.

To celebrate its launch, StackinSat is organizing a conference about Bitcoin in Biarritz tomorrow, October 2. The Surfin’ Bitcoin event will feature a host of leading speakers from the French crypto-sphere.

A French nugget born in Biarritz, StackinSat aims to become the reference platform for all Bitcoin-related services in the coming years.

In the near future, the team plans to develop products and services related to the Lightning Network, the decentralized network built on top of the Bitcoin network that facilitates micropayments.