The Daily Brief
crypto currencies phone Marc Bruxelle/iStock/Getty Images Plus

Wealthfront’s Crypto Integration

With more than $11 billion in AUM, Wealthfront built a direct integration with cryptocurrency platform Coinbase.

Robo advisor Wealthfront is now supporting Coinbase account integration, according to a new post. The direct API-level integration will allow Wealthfront users to track their cryptocurrencies through the company's financial planning offering. Both those who have opened an investment account with Wealthfront and those using its free financial planning service will be able to track their crypto, provided they have entered the necessary Coinbase account information.

Wealthfront made the service available in response to user demand and developed the integration independently of its data aggregator, Quovo. “Coinbase has been one of our clients’ top requested institutions to support,” said Kate Wauck, VP of communications. “Over time you can count on Wealthfront to incorporate far more data, from client accounts and third-party providers.” Besides its account aggregation, Wealthfront also has an integration with Intuit’s TurboTax.

The company initially confirmed it planned to offer checking and savings accounts in the first quarter of 2019, which Marketwatch reported are in beta and would be FDIC-insured, but Wauck later stated that the provision would in fact be a "cash account." Robinhood rolled out a "Checking & Savings" feature last week, only to change course and remove marketing materials from its site, opting to call the tool "Cash Management" instead. Betterment is in the midst of rolling out its cash management solution. A cash account would take Wealthfront a step closer to its goal of being a one-stop account for automatically receiving direct deposits, paying bills and making robo-advised investments.

Want The Daily Brief delivered directly to your inbox? Sign up for WealthManagement.com’s Morning Memo newsletter.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish