Investment App Betterment Mulling to Offer Crypto Services

Digital investment platform Betterment with roughly $30 billion under management is contemplating on offering cryptocurrency services, the company’s CEO Sarah Levy revealed in an interview.

Betterment Looking to Offer Crypto Services

During an interview with Yahoo Finance, Sarah Levy, the CEO of Digital investment platform Betterment expressed enthusiasm on offering digital asset-related investment opportunities to customers:

“We know investors increasingly have an interest in crypto, so what we’re doing is really trying to figure out: Is there a way that we can offer crypto with a guided wrapper so that we can help educate along the way?”

Betterment is a U.S.-based financial advisory company with roughly $30 billion under management that saw rapid growth in the first quarter amid the rise of retail investing online. She adds:

“I think how that will manifest itself will be more through a lens of a long-term buy and hold the asset as a smaller portion of a portfolio, rather than as sort of a trading opportunity short term. Personally, I’m a big fan of crypto and I think it’s a really interesting asset class to add into the mix. There’s an opportunity really to help your diversification plan with crypto.”

Growing Interest in Digital Asset Space

Levy reveals that the company had been searching for ways to offer customers a way to add crypto to their portfolios given the growing interest in the digital asset space. Acknowledging that the market was volatile, the company may still offer long-term investment opportunities to those who were properly informed about the space.

Levy’s comments come a month after she said Betterment was in a “watch-and-learn mode” over offering cryptocurrency services to its customers. Founded in 2008, Betterment allows investment in stocks and bonds that saw an increase of 116% year-over-year in the first quarter of 2021.