Fintech Plum rolls out crypto investing to customers in Europe

Quick Take

  • Fintech company Plum has rolled out crypto investing services to customers in France, Belgium, Spain and Ireland in partnership with Bitpanda.
  • Customers will be able to buy fractional shares in five of the leading cryptocurrencies.

European fintech platform Plum is rolling out crypto investing services to customers in France, Belgium, Spain and Ireland.

Plum will provide the service through a partnership with crypto unicorn Bitpanda, according to a release from Plum. The app will integrate Bitpanda's API tools to enable customers to access Bitpanda's crypto services through Plum's user interface.

Customers can buy and sell five different cryptocurrencies: bitcoin, ether, cardano, solana and binance coin. All investments are physically backed and kept in cold storage, according to the release.

"We’ve chosen to offer five more established coins at this stage as we want to make financial management simpler for people and encourage a longer-term investing approach instead of shorter-term trading," Victor Trokoudes, CEO and co-founder of Plum, said in the release.

Founded in 2016, Plum aims to automate the parts of personal finance that people find hard, such as investing and budgeting. It offers services such as commission-free stock trading and tools for tracking spending. 

The Block first reported Plum's plans to offer crypto services in February of last year.

The new service will enable individuals to buy fractional shares of cryptocurrencies and invest as a little as 1 euro. There will also be a fixed rate of 2.5% per crypto transaction, according to the release.

The fintech startup has raised $53 million to date, according to data from Crunchbase. Investors include 500 Global and The Future Fund.

In October, the startup closed a $6 million debt financing round as well as over $1 million in a crowdfunding campaign.

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