Stash plans to introduce crypto in smart portfolios

Banking and investing app Stash is reportedly working on introducing crypto into its smart portfolios, but the company did not offer a specific launch date.

Why should we care?
With the growth of crypto as an asset class, and the rise of the “meme stock” trend which spurred interest in trading platforms, Stash is working to help expose its customers to new wealth-building tools in a responsible way. “[We want to] use that as a jumping-off point to learn about whether it’s sufficiently meeting [customers’] needs or do we need to build and do more above and beyond that to support crypto, but do so in a way that is true to our mission where we're surrounding it with, with education and advice as part of the offering," the company’s senior vice president of product Claudio Esposito said in an interview. Meanwhile, the company intends to lean deeper into “Stock Back” (fractional share rewards) as a way of introducing customers to investing. "The way we think about it is how do we get someone to not think about [getting into] day trading, but think about setting up the right tools and using the right habits to build wealth over time," said Ed Robinson, Stash's co-founder and president. Stash, which has raised more than $467M in funding, has 6 million customers, of which 2.3 million are active subscribers.