Microsavings app Bamboo adds ex-Acorns members to team

Tessa DempsterTessa DempsterAugust 18, 2018
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Tech startup Bamboo has announced two former Acorns team members have been added to the company to help further develop the cryptocurrency microsavings app.

Bamboo has simplified the way individuals can access cryptocurrencies such as bitcoin by condensing the typically complicated crypto setup process down to just one minute.

Bamboo chief technology officer and co-founder Peter Hume said the current system was targeted towards the tech savvy, and that needed to change.

“It seemed to be very niche, cliquey, highly technical environment and we thought the potential and promise of blockchain could be extended to everyone,” said Hume.Click To Tweet

The Bamboo app will allow users to save while they spend by turning the rounded-up spare change from everyday purchases into crypto microinvestments.

Bamboo chief executive officer and co-founder Phil George said the app aimed to reduce the barriers to entry for first-timers looking to purchase cryptocurrency.

“We thought there’s got to be an easier way to do it; we’ve built an app that makes it easy for anyone with a mobile phone and a bank account to get started,” said George.

This story first appeared on Coincast TV.

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