Fintech Stash integrates crypto into its app – Coins.fr

Unicorn valued at $1.4 billion, the personal finance mobile application Stash announces its opening to cryptocurrencies. His wallet allows for the moment to trade 8 tokenswhose Bitcoin and Ethereum.

Democratizing investment: this is the goal set by the major asset managers in traditional finance. And as explained in particular Yoan Chazal, partner at Deloitte, during the conference AM Tech Daythis requires in particular convincing a population which today does not invest.

Fintechs, thanks to digital solutions, also intend to contribute to the development of this market. Stashlike Lydia in France, tries to facilitate theinvestmentnow including in the crypto-assets.

Only 8 most recognized and long term tokens

The mobile application, which claims 6 million customers and $3 billion in assets under management, however, does not intend to compete with crypto exchanges or brokers. Its strategy is based on a reduced selection of cryptocurrencies, 8 in total.

Users, who sign up for monthly subscriptions ($3 or $9 per month) can sell and buy Bitcoin, Bitcoin Cash, Chainlink, Ethereum, Avalanche, Ethereum Classic, Solana, and Uniswap.

These tokens will be kept on a wallet controlled by the application. No self-custody to date, although the leaders do not exclude this possibility in the future. This is also the trajectory followed by other fintechs that have entered crypto such as robinhood and Revolut. Targeting an audience of “beginners”, Stash assume this choice of a tight token supply.

We believe in offering our customers the most established cryptocurrencies that have longer term usage,” justifies near TechCrunch Ed Robinson, co-founder and president of Stash.

No transaction fees, but a subscription-based service

This approach is also explained by the fintech business model. It generates about 80% of its income through its subscriptions and not by applying transaction fees like exchanges.

This fee model in comparison requires an expansion of the cryptocurrency supply to maximize revenue. But these native crypto players also target another clientele. Stash, which offers acculturation to investment, relies on support with first-time customers.

With crypto, the fintech also hopes to accelerate the development of its product Smart Portfolio, the most dynamic in terms of customer recruitment. Over the past 10 months, it has recorded nearly 400,000 account creations. Of these clients, 60% make “regular and automated” investments.

Robo-advisor to manage the investment

Smart Portfolio is a “ robo advisor », a program responsible for investing on behalf of the client according to predefined criteria and risk profile. Since the beginning of the year, this robot could already diversify the wealth of subscribers by integrating crypto-assets via the setting of an exposure level.

For its most risk-averse clients, Stash recommends a maximum exposure of 6%. Fintech wants to be faithful to its model based on support and acculturation. Before acquiring tokens, users will be required to complete a online crypto training.

A cautious approach to investing which largely explains the success of Stash, claim its leaders. In 2021, the company finalized a $125 million Series Gpropelling its valuation to $1.14 billion.

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Fintech Stash integrates crypto into its app – Coins.fr


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