Investing App Stash Expands to Crypto: Here’s What You Need to Know – Bitcoin (BTC/USD), Ethereum (ETH/USD)

personal finance app Stash announced an expansion into the cryptocurrency space on Tuesday.

The New York-based company, which is backed by T Rowe Price Group Inc. TRUE, currently offers robo-advisor services, retirement accounts, banking training, and a debit card. Today’s announcement marks its first foray into the crypto frontier.

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“Stashers are intrigued by crypto and we’re here to help them as a trusted partner,” said Stash CEO Brandon Krieg.

The startup, co-founded in 2015 by Krieg, a former Wall Street employee, offers investors the chance to buy eight major tokens with safeguards in place.

“We built this feature the ‘Stash Way,'” Krieg added. “By design, our platform educates our customers, not just with content, but also with built-in safeguards that aim to align with their best interests as they embark on their crypto journey. investment.

In addition to verifying the coins offered, Stash encourages “thoughtful” investments that lead to a long-term diversified portfolio.

For those interested in crypto, Stash offers:

  • A new crypto calculator tool to help clients build and maintain a balanced portfolio based on their current investments.
  • Screens to remind clients of crypto volatility
  • Fee transparency to help discourage frequent transactions
  • In-app alerts if their portfolio has too much crypto exposure relative to their risk profile
  • Ongoing training and mentorship via email, social media and video.

Partnership with Apex

Stash offers its 2 million active subscribers eight approved coins, including Bitcoin BTC/USD and ether ETH/USD.

To enable its expanded crypto access, the startup has partnered with Apex Crypto, a subsidiary of Apex Fintech Solutionsas a cryptocurrency investment infrastructure provider.

“Stash offers Americans of all backgrounds access to diverse wealth-building tools, and we’re excited to help them bring crypto investment opportunities to their clients,” said the CEO of Apex Crypto. Rachel Saunders said.

“They make it easier and more affordable for Americans to grow their wealth with a personalized in-app experience, along with content and education.”

Earlier this year, the fintech company introduced crypto exposure in its fully managed Smart Portfolio accounts.

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So far, over half a million people have signed up for Smart Portfolio accounts. Over the past year, Stash has had annual revenue of $125 million, and deposits have grown 30% over the past two years.

Besides T. Rowe Price, his investors include Capital of Goodwater, Entry capital, Owl Ventures and Eldridge.

About Sandra A. Powell

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