Plum, the European smart money app, is adding crypto investing to its range of investment options. Users in France, Belgium, Spain and Ireland, will have access to this via services provided by Bitpanda.
Plum customers in these markets can now buy, sell or hold five popular cryptocurrencies through the app: Bitcoin (BTC); Ethereum (ETH); Cardano (ADA); Solana (SOL); Binance Coin (BNB). The company chose to offer these more established coins only at this stage to encourage a longer-term investing approach and reduce complexity.
People will be able to buy fractional shares of these cryptocurrencies through the Plum app and can start investing in crypto with just €1. They will be able to access unlimited crypto transactions at a fixed rate of 2.5 per cent per transaction.
Plum is working with fintech unicorn Bitpanda to make this crypto offering available, which means Bitpanda’s cutting-edge API solution is fully integrated with the Plum app. As a result, Bitpanda’s crypto services can be accessed through Plum’s interface, with all transactions executed by Bitpanda. Crypto investments are physically backed up and kept in cold storage by Bitpanda to help ensure their safety. Customers can access them whenever they want.
Plum also launched commission-free stock investing in EU countries earlier this year in September. Together with crypto, the company is building a range of assets, allowing customers to diversify their portfolios in one place.
Evolving and exploring crypto
Victor Trokoudes, CEO and co-founder of Plum, says:
“Our customers in the EU are keen to explore crypto as an asset class. As such, we are delighted to be bringing them this new service in a quick and secure way. Plum’s aim is to offer superior financial tools to help people grow their money over time in the most efficient way possible.
“Crypto looks set to play a key part in the investment journey of the future. It’s exciting to be able to give customers access to this asset class now as part of a diversified portfolio. We’ve chosen to offer five, more established coins at this stage. We want to make financial management simpler for people and encourage a longer-term investing approach instead of shorter-term trading”.
Eric Demuth, co-founder and CEO of Bitpanda, adds:
“As the industry evolves it is becoming increasingly clear that the best way for fintechs to truly have an impact on people’s lives is by working together. Bitpanda’s crypto services made available by Plum is a great example of this. It is unlocking opportunities for investors in Europe to take control of their financial futures.”
The Plum app has grown quickly across Europe. This is thanks to its combination of automated saving and spend management tools. Alongside a range of investment options, Plum has more than 1.4 million customers using it.