Getting a business off the ground is hard work, but for three crypto-loving teenagers, that dream has become a reality. Jai Bhavnani, Jack Lipstone and David Lucid are between the ages of 18 and 19, but they’re already in charge of a new crypto startup called Rari Capital.
Rari Capital Has Grown Into Something Much Bigger
The company is both a traditional manager of portfolios and assets and a provider of long-term investing strategies. All three of the company’s founders have been actively involved in trading – whether it be stocks or crypto – for some time and sought to bring their knowledge to others.
In an interview, Lipstone explains that Bhavnani first got into crypto during the industry’s early days when some of today’s biggest exchanges and wallet brands were just starting out, while Lipstone had more of a traditional investing background. He explains:
Jai was in the crypto world for a while. I was really big into investing in stocks, but I was also learning about Ethereum and bitcoin, and Jai said, ‘There’s this huge problem. I’m trading all these small tokens, but I want my friends to be able to trade them, and that’s just not happening right now.’ Especially since Binance wasn’t out at the time and it was the early days of Coinbase. It was just really hard.
The eventually came to a decision in 2017. They decided that the public didn’t know enough about crypto to take advantage of it. It was therefore up to them to set up a platform that would ultimately break things down into simple terms and really help people to understand the benefits of the growing crypto industry.
Lipstone says:
The goal was to strip down all of the really difficult technology and jargon that you need to understand and just make a very simple-to-use mobile wallet that allows for easy trading.
Originally starting out under the name Ambo, the wallet platform would eventually evolve into the much larger Rari Capital after interest in the company began to surge. Lipstone explains:
It was a team of a few of us, and we worked on this for about a year and a half, and then we were approached by a few different companies with acquisition offers.
Giving People the Data They Need
Rari Capital is designed to be a decentralized finance (DeFi) firm, meaning it’s not a centralized banking institution. Rather, financial tools and decisions are more in the hands of those at the wheel, so to speak. Customers can choose what assets they wish to invest in and which directions they want to go while receiving assistance in the form of strategic investing information from the company.
The firm is entering the fray at just the right time considering the entire DeFi space has just hit a market cap of roughly $11 billion.