Step, a banking platform for under-18s, has launched a crypto-investing service

Step, a banking platform aimed at people under 18, attracted $300 million in debt financing. The funds will be used, among other things, to launch a crypto-asset investment service.

The financing was provided by Triplepoint Capital and Evolve Bank & Trust.

Earlier, the company was backed by Crosslink Capital, Stripe, Coatue, General Catalyst, Triplepoint Capital, Charlie D’Amelio, Stephen Curry, Justin Timberlake, Will Smith, The Chainsmokers, Alex Rodriguez, and others.

With parental or legal guardian consent, customers will be able to buy and sell cryptocurrencies in the mobile app. Bitcoin will be available initially. Going forward, the developers will add stocks and other digital assets.

In addition to the investment platform, clients can earn rewards in cryptocurrency (and soon in stocks) when making purchases with the Step Visa card.

The company also announced the launch of a financial literacy program, which covers the basics of dealing with banks and investing in digital assets.

In 2021, New York’s elected mayor Eric Adams proposed teachingcryptocurrencies in schools.

Earlier, fintech Revolut expanded the number of supported crypto assets for US-based customers.

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