Affirm Holdings Inc. is planning a new crypto service that allows customers to buy and sell crypto directly from in-app savings accounts.
The San Francisco-based company now allows customers to expand their financial options with crypto purchases through the Affirm app. In addition, they will offer new debit card functionality. According to Affirm, this is with the goal of becoming an all-in-one service for the financial needs of the client.
Max Levchin, CEO of Affirm, said the company is taking no risks with this new development. âWe’re doing it in a way that feels natural to us,â Levchin said in an interview. “We’re going to make it really simple, for sure, we won’t let you do crazy things.”
These new offers are the result of a partnership with New York Digital Investment Group LLC.
Plus, the company’s latest additions are part of their plan to become a global âsuper appâ similar to WeChat or Alipay. “Our superpowers are to develop sophisticated and scalable technology, risk management and very efficient access to capital,” said Levchin. “Expect us to look for more buying and building opportunities, as we look to leverage our core strengths.”
Earlier this year, Levchin had already set his sights on crypto offerings. Initially, he had a reputation for crypto-skepticism. However, as Bitcoin approached $ 50,000, its position changed, along with many others.
It has been a huge year for the major players in the financial industry’s adoption of crypto. Paypal continues to expand crypto offerings, including crypto withdrawals. Visa and Mastercard have also expanded their crypto services this year through partnerships, rewards programs, and even NFTs.
In addition to services, some of these financial industry giants are also invested in the crypto industry in other ways. Recently, Paypal and Visa both invested in Blockchain Capital’s $ 300 million fund.
As Afffirm takes on the crypto, it joins the leagues of other financial service providers entering the crypto space.
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