Newton announced today that it has entered into a partnership with DVX Capital Markets which will see affiliate DV Trading invest up to $15 million in debt and equity.
As Canada’s first commission-free cryptocurrency brokerage, Newton does not charge funding or trading fees. Newton’s native iOS and watchOS apps support Bitcoin, Ethereum and Litecoin trading.
Currently in closed beta testing, Newton is planning to launch open trading in the fourth quarter of this year, as well as introducing both Android and web applications.
“The partnership with DV is key to Newton’s growth,” said CEO Dustin Walper. “Working with an established partner such as DV Trading not only provides Newton with the funds needed to expand, but also gives investors and customers the confidence of knowing that we are working with a regulated financial institution, a position unique in the Canadian crypto market.”
“We were looking for a partner to help us deliver an easy to use mobile app, that allows Canadians to buy and sell cryptocurrencies on their phone at fair prices with no commissions or fees,” noted Dino Verbrugge, Co-founder of DV Trading. “Dustin’s entrepreneurial flair, combined with his past achievements, made him and Newton the ideal partner to work with and invest in.”
The partnership with DV will position Newton well for future growth within the maturing cryptocurrency market.