Stack Releases Trading App To Teach Teens And Parents About Crypto
After the release of the education and trading software Stack, which is designed to teach people under the age of 18 how to trade and hold cryptocurrency, crypto-curious teenagers may be able to try their hand at actual crypto trading.
On September 8, mobile software company Stack released the cryptocurrency trading app with the goal of providing young cryptocurrency fans with better educational alternatives to what they would get from crypto influencers on social media platforms like Reddit and TikTok. Stack released what CEO Will Rush says is “the first crypto education and trading app for teens and their parents.”
Naturally, the app has parental restrictions, and Stack accounts are governed by the Uniform Transfers to Minors Act, which permits parents and legal guardians to retain ownership of the account and assets until their adolescent becomes 18 years old.
Will Rush, the CEO of Stack, noted in a release that while Gen Z has a great interest in learning about cryptocurrency, they typically access this information online through social networking apps or superficial blog postings.
The subscription-based app costs $3 per month per user and is available for Android. Rush said:
“All of our research about Gen Z demonstrates that they are self-learners but also that they follow trends that evolve in minutes instead of days, months or years. This means that too often, TikTok or Reddit is their financial advisor.”
In 2021, Rush, CTO Natalie Young, and CCO Angela Mascarenas together formed the business. Mascarenas assisted in digitizing the Girl Scouts’ cookie ordering system, while Young worked as a T-Mobile developer. The founding team also worked on the teen financial app Copper and securities for Rush.
While at Copper, Rush oversaw initiatives to educate kids about investing but discovered that switching the word “stock” to “crypto” was increasing interest. He would also read Reddit postings from young people attempting to get into cryptocurrency who used their parents’ information to open accounts on exchanges like Coinbase or Robinhood only to have those accounts promptly closed for being underage.
“By making those few decisions we think we can offer a better educational product,” Rush added.
The new capital infusion will enable the company to continue building out its app and its high school-focused financial literacy program. Rush also wants Stack to gain more financial licenses and expand its offerings. The company has eight employees currently, and he expects to hire two more this year.
Following a $2.7 million investment from Madrona, The Venture Collective, Santa Clara Ventures, as well as a number of angel and other investors, the app launched with more than 6,000 customers on the waitlist. The latest investment brings Stack’s total funding to date to slightly over $3 million.
The company will next carry out what Rush refers to as “a more thoughtful makeover of its educational content,” which includes developing captivating financial content that is comparable to what is well-liked on TikTok and YouTube.
“We need a big lift to make it relevant to teenagers and are looking at educational topics like NFTs, metaverse, and web3. We aim to be the trusted account for democratizing investing for young people,” Rush said.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Stack Releases Trading App To Teach Teens And Parents About Crypto
After the release of the education and trading software Stack, which is designed to teach people under the age of 18 how to trade and hold cryptocurrency, crypto-curious teenagers may be able to try their hand at actual crypto trading.
On September 8, mobile software company Stack released the cryptocurrency trading app with the goal of providing young cryptocurrency fans with better educational alternatives to what they would get from crypto influencers on social media platforms like Reddit and TikTok. Stack released what CEO Will Rush says is “the first crypto education and trading app for teens and their parents.”
Naturally, the app has parental restrictions, and Stack accounts are governed by the Uniform Transfers to Minors Act, which permits parents and legal guardians to retain ownership of the account and assets until their adolescent becomes 18 years old.
Will Rush, the CEO of Stack, noted in a release that while Gen Z has a great interest in learning about cryptocurrency, they typically access this information online through social networking apps or superficial blog postings.
The subscription-based app costs $3 per month per user and is available for Android. Rush said:
“All of our research about Gen Z demonstrates that they are self-learners but also that they follow trends that evolve in minutes instead of days, months or years. This means that too often, TikTok or Reddit is their financial advisor.”
In 2021, Rush, CTO Natalie Young, and CCO Angela Mascarenas together formed the business. Mascarenas assisted in digitizing the Girl Scouts’ cookie ordering system, while Young worked as a T-Mobile developer. The founding team also worked on the teen financial app Copper and securities for Rush.
While at Copper, Rush oversaw initiatives to educate kids about investing but discovered that switching the word “stock” to “crypto” was increasing interest. He would also read Reddit postings from young people attempting to get into cryptocurrency who used their parents’ information to open accounts on exchanges like Coinbase or Robinhood only to have those accounts promptly closed for being underage.
“By making those few decisions we think we can offer a better educational product,” Rush added.
The new capital infusion will enable the company to continue building out its app and its high school-focused financial literacy program. Rush also wants Stack to gain more financial licenses and expand its offerings. The company has eight employees currently, and he expects to hire two more this year.
Following a $2.7 million investment from Madrona, The Venture Collective, Santa Clara Ventures, as well as a number of angel and other investors, the app launched with more than 6,000 customers on the waitlist. The latest investment brings Stack’s total funding to date to slightly over $3 million.
The company will next carry out what Rush refers to as “a more thoughtful makeover of its educational content,” which includes developing captivating financial content that is comparable to what is well-liked on TikTok and YouTube.
“We need a big lift to make it relevant to teenagers and are looking at educational topics like NFTs, metaverse, and web3. We aim to be the trusted account for democratizing investing for young people,” Rush said.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
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