Crypto.com and Plaid have announced a new strategic partnership that allows users to move investment positions from external brokerage accounts to Crypto.com without liquidating their assets. This simplification of the process aims to enhance user experience.
Crypto.com and Plaid Partnership
Crypto.com has established a strategic partnership with Plaid aimed at simplifying asset transfers between brokerage accounts. According to Travis McGhee, Managing Director at Crypto.com, this collaboration will improve customer experience.
Investments Move Functionality
Investments Move is a new product from Plaid introduced in October 2024. It allows U.S. investors to move funds directly without needing to convert them into cash. This feature automates the linking of accounts and data retrieval, reducing the likelihood of errors during the transfer.
Expected Benefits for Users
Users of Crypto.com who pass eligibility checks can receive a stock transfer bonus of up to 3%. The integration of Investments Move into Crypto.com is currently offered to users registered in the U.S.
The collaboration between Crypto.com and Plaid marks an important step toward simplifying investment management and enhancing convenience for users, reflecting current trends in open finance.
