Stash Deepens Its Push Into Crypto With Eight New Offerings

Investing and banking app Stash has announced that customers will be able to buy eight of the largest and most established cryptocurrencies through a separate crypto account. 

According to a press statement, infrastructure provider Apex Crypto will be driving the investments, which will include bitcoin and ether.

Stash is a unicorn fintech company founded in 2015 that provides banking and investing services via its online platform. According to Crunchbase, the business most recently secured $125 million in a Series G fundraising round, bringing its total funding to $427 million.

Stash’s backers include T. Rowe Price, Eldridge and Union Square Ventures. 

“Stashers are intrigued by crypto and we are here to help them as a trusted partner,” said Brandon Krieg in the release.  

Stash’s second foray into cryptocurrency

The startup’s introduction of crypto exposure in its fully-managed Smart Portfolio accounts earlier this year was the first.

It is also releasing a new cryptocurrency calculator that is designed to assist users in creating well-balanced portfolios. If the portfolio has too much crypto exposure in relation to their risk profile, they will receive in-app alerts, the business stated.

According to Doug Feldman, chief investment officer of Stash, users won’t be able to store their own cryptocurrency in a wallet. But he left open the possibility of a later launch of a cryptocurrency wallet.

According to the press release, Stash manages almost $3 billion in assets on behalf of more than 2 million active users. Compared to the five million consumers mentioned in January 2021, total customers have decreased by around 60%, while AUM has increased by about 20%.

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