A Paris and Salt Lake City-based wealth management company that acquires businesses with the intention of improving their value has recognized the benefits of cryptocurrency and is actively working to integrate cryptocurrency in one its most recent acquisitions, a 20-year-old travel agency that prides itself on its innovative ideas.
Vecta Travel, the U.S. sister company of Compagnies du Monde, which provides travel to luxury destinations worldwide, now accepts bitcoin. Customers can pay with bitcoin for their highly customized travel plan, Vectatravel.com, according to Fabien Dureuil, CEO of Genevieve Company.
Cryptocurrency And Digitization
“We now put our best effort to digitization, app development, a new website, a new payment system, accepting cryptocurrency with Bitpay and Coinbase,” Dureuil said with regard to the changes he has made at both Compagnies du Monde in Paris and Vecta Travel in the U.S. The travel agencies will also be able to accept Ethereum and Digix Global, a tokenized asset platform built on Ethereum.
Allowing the companies to accept cryptocurrencies will create more liquidity for Compagnies du Monde and Vecta Travel, Dureuil said. It will also allow the companies to offer a point of distinction in the markets they serve.Cryptocurrency makes perfect sense for an acquisition specialty/wealth management company like Genevieve that seeks to use cutting edge technology to make its client companies stronger. Such tools will be adaptable and designed for the modern business environment, providing a secure, reliable return for the investor.
More To Come
Dureuil said his company will introduce cryptocurrency to other acquisitions it makes. In addition to accepting cryptocurrencies, Genevieve will develop private cryptocurrencies for its client companies – currencies based on hard assets such as diamonds, gold and real estate.
“We strongly believe that cryptocurrencies are an alternative monetary system that needs to be accepted by services and vendors in order to be more current, and to increase the premium and legitimization of this medium of exchange,” Dureuil said. “To us, a medium becomes a currency if people trust it enough to use it to store value and to use it like a medium of exchange in everyday life, to purchase and pay for services and goods.”
“Genevieve and all of our participants would like to be a part of this transition,” he said. “We feel like we are in some ways financial activists, and good French person that I am, financial revolution is in the realm of Genevieve.”
Because the success of digital currency is based on trust and use cases, Dureuil is open to using it for any company Genevieve acquires. He said he is willing to promote any financial service that the law allows.
Technology To Help Investors
Genevieve seeks to use new technology in the service of offering investors opportunities to accumulate wealth through traditional methods, such as hedge fund management, financial engineering, access to venture capital and turnaround services.
Dureuil has more than 10 years’ experience in legal and financial advising, organizational restructuring and asset management.
Duane Kirkpatrick, senior partner, brings a background in information technology. He was CEO of TeleNova, a Brazilian company that provided Internet-based international phone service, and he participated in the first tech boom in the early 2000s.
Alan Walker, senior partner and vice president of operations, brings a tech background. He was vice president of operations at RAKUTEN US, the giant, Tokyo-based e-commerce platform.
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