Fintech company co-founded by a PayPal co-founder will give clients access to cryptocurrencies

The fintech company Affirm, co-founded by PayPal co-founder Max Levchin, will allow customers to trade cryptocurrencies directly from savings accounts. Levchin announced this at an investor presentation, according to CNBC.

“The time has come for Affirm to support digital assets in a way that feels natural to us. In the near term we will use our savings accounts to provide seamless access to cryptocurrencies,” said Levchin.

Affirm offers purchases with a pay-over-time model, offering the popular “buy now, pay later” service. In January 2021, the company провела IPO on the Nasdaq stock market, raising $1.2 billion. Its market capitalization reached $23 billion.

The app aims to become “a single hub for meeting customers’ financial needs.” The integration of cryptocurrencies is part of these efforts.

Affirm has not specified when exactly users will gain access to the new feature.

In an interview with Bloomberg, Levchin explained that the crypto integration became possible thanks to a partnership with digital assets manager NYDIG.

“We will make sure that this [feature] looks natural. We will keep everything very simple and safe, not letting you make reckless purchases,” emphasized Levchin.

After the opening of trading on Nasdaq, Affirm’s shares rose by 2.5%. As of the time of writing, the securities traded near $115. The company’s market capitalization is estimated at $31.38 billion.

Earlier reports noted that British fintech Revolut zапустить собственный токен наподобие Binance Coin.

Read ForkLog’s Bitcoin news in our Telegram — cryptocurrency news, prices and analysis.