AQRU PLC - London-based incubator for decentralised finance businesses - Says assets in the AQRU.io platform, operated by its wholly owned subsidiary Accru Finance Ltd, have decreased to $13 million. The company says the reduction in platform assets is attributable to adverse market conditions and a fall in the price of cryptocurrencies. It anticipates that it will be able to increase yields offered on the platform as the market recovers.
In May this year, Accru Finance said it surpassed $50 million in assets under management and 20,000 user signups on its platform five months after its launch in December.
Customer sign-ups to the platform have risen to over 25,000 as at 22 June.
AQRU also announces that Chief Investment Officer Philipp Kallerhoff will join the company as executive director subject to completion of the requisite regulatory procedures. It says Kallerhoff has a track-record in managing hedge funds across asset classes.
AQRU.io is a platform designed to offer investors in certain European jurisdictions and other international markets a way to access and participate in the decentralised markets.
Current stock price: last traded on June 16 at 1.5 pence
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