Social Investing App Invstr Launches Crypto Trading in Partnership with Vast Bank
Financial Education & Investing App Offers Commission-Free Crypto Trading Through a Nationally Regulated Bank, Providing Additional Trust for New Investors in the Crypto Economy
TULSA, OK--(BUSINESS WIRE)--Award-winning social investment app Invstr announces the launch of cryptocurrency trading through a new partnership with Vast Bank and leveraging the Coinbase exchange platform for trading.
Invstr members in all 50 U.S. states are now able to buy and sell four crypto currencies — Bitcoin, Bitcoin Cash, Ethereum and Litecoin — in their Invstr+ accounts. The minimum crypto investment amount is just $5.
This means that an Invstr+ account holder has the convenience of being able to save or spend their money, and invest commission-free in almost 5,000 US equities, ETFs and crypto currencies seamlessly in a single account. The Invstr+ accounts are protected with Okta security and have no monthly or annual fees.
Invstr’s partnership with Vast Bank, the first U.S. bank to offer digital asset custody, means that Invstr customers’ crypto currencies are custodied in a nationally regulated U.S. bank. Further, Coinbase adds the world-class liquidity and expertise of one of the largest crypto exchange platforms in the USA. A recent survey found that 60% of current crypto owners would use their bank to invest in cryptocurrencies if given the opportunity.
Invstr’s new investment features mean that Invstr is one of the best platforms to learn how to invest smarter as well as one of the most convenient and secure digital investment account.
Unlike other investment applications, Invstr has established a reputation as a leading financial educational platform with a range of features including an investing Academy, social network, live simulated portfolios through Invstr’s Fantasy Finance® and detailed analytics to help users understand the markets and make more informed investing decisions. Invstr’s financial education includes sections on investing in crypto assets.
“We are delighted to be working with Vast Bank and Coinbase to offer everyone all the fun, social engagement, financial education, convenience and security of Invstr with the comfort of holding crypto in a US bank and the liquidity of Coinbase. For many people, investing in crypto currencies is a big leap of faith. Our partnership with Vast Bank and leveraging Coinbase’s exchange platform reduces the perceived risk of investing in crypto currencies and should encourage many more people to take the plunge for the first time,” said Invstr founder and CEO, Kerim Derhalli.
Invstr recently launched investment tools and analytics to help investors make smarter investment decisions alongside its commission-free banking, brokerage and crypto investment services. Invstr members, through Invstr Pro, can access streaming real time data about crypto, stocks, commodities, currencies and other instruments as well as professional-level technical studies, such as RSI & MACD, and comparison charts not available in competing apps.
"Finding an easy way to purchase and manage cryptocurrencies is perhaps the biggest hurdle to mass adoption. Complexity remains high, trust is low, and customers often experience frustration and difficulty moving between cryptocurrencies and fiat currencies," said Brad Scrivner, Vast Bank CEO. "We're proud to partner with Invstr and Coinbase to set the new standard by enabling customers to simultaneously manage both their bank and crypto accounts side-by-side in a high-tech and secure UI, powered by world-class software and regulated by the Office of the Comptroller of the Currency."
About Invstr Ltd.
Invstr is a technology company with a presence in New York, London and Istanbul. Through its award-winning smartphone app, Invstr is determined to democratize finance. Founded by Kerim Derhalli in 2013, the app combines fun, learning, and competition to break down barriers and help users become better, more confident investors. Derhalli was named the 2019 Tech Entrepreneur of the Year at the Go:Tech Business Awards in 2019 and Invstr the Fintech App of the Year at the 2019 UK App Awards. Invstr also won the Fintech Innovator of the Year at the UK Business Tech Awards 2018 and Fintech Founder of the Year at the BMW i UK Tech Founder Awards 2018. Invstr is available for both Android and iOS devices, and can be downloaded in the App Store and on Google Play.
Coinbase uses cryptocurrency to build a cryptoeconomy that maintains a fairer, more accessible, efficient, and transparent financial system. Coinbase was founded in 2012 with the radical idea that anyone should be able to access bitcoin easily and securely from anywhere. Today, Coinbase provides a reliable and easy-to-use platform to access the cryptoeconomy more broadly.
About Vast Bank
Vast Bank has built its legacy on personal service, strength, and integrity. With bold leadership and a renewed commitment to customer-centricity, Vast is building on its past to create a future based on new ideas, world-class technology, and a winning culture to delight customers through simplicity and control. Family-owned and based in Tulsa, Oklahoma, Vast Bank has served its customers since 1982.