Step Announces Plans for a New Crypto & Stock Investment Product

PALO ALTO, Calif. — ( BUSINESS WIRE ) — tone, the all-in-one fiscal solution for the following generation, today announced a waitlist and unveil plans for its new crypto and stock investment product, becoming the first fiscal app that will allow both teens under 18 and unseasoned adults to buy, sell, hold and receive crypto. With this new product volunteer, Step customers will soon be able to invest, trade wind and accrue rewards in both crypto ( with access to a wide library of vet crypto tokens ) and stocks .

“ Over the past year and a half, we ’ ve been able to help more than 3 million customers establish a potent fiscal foundation and begin to think about their long-run goals, ” said CJ MacDonald, Founder and CEO at Step. “ As a natural future footprint in their fiscal journeys, we ’ ra thrilled to be able to offer teens the ability to budget, spend, save, build credit and now invest for their fiscal futures directly within the Step App. ” today, access to crypto and many other types of investment products remain gate ( and expensive ) for teens under the historic period of 18. however, as Gen Z continues to lean into the “ DIY culture ” with increase fiscal curio as they turn their slope hustles into full-time gigs, they ’ ra looking for an immediate way to start becoming active contributors to the economy and growing their wealth.

In fact, not only is investing one of the top-requested Step features, but a late survey of Step teens revealed that 56 % are bullish on crypto ( with Bitcoin and NFTs at the exceed of the tilt ). additionally, 25 % of teens said they believe investing is the single-most crucial skill to overlord before graduating high school. That being said, teens besides acknowledged a crave for more education about these newer types of investments. step has designed this new product responsibly, with teens ’ condom top of mind as they make their first foray into investing. For model, parents will be able to oversee their adolescent ’ randomness access to the invest feature, determining when they ’ re quick for this adjacent step in their fiscal journey. They ’ ll besides have the ability to expand their adolescent ’ s monthly limits as they start to become more confident investors. The party will emphasize and integrate educational resources for teens who are looking to invest as an all-important part of the app experience, and more broadly, discuss the importance of saving and investing to build long-run value. “ At the end of the day, our goal at Step is to help improve the fiscal future of the following generation by providing them with access to affordable, modern fiscal tools and education in a truly Gen Z room, ” said MacDonald. “ We ’ ra excited to be bringing teens and their parents a rotatory way to start investing at an earlier age so they can reap the long-run benefits and create generational wealth. ” On the crypto front, Step ’ s new investment merchandise will be powered by the digital assets infrastructure and regulative platform, Zero Hash, and provide each customer with access to a library of over 50 crypto tokens arsenic well as their own crypto addresses ( wallets ) to deposit and withdraw on-chain. Customers will besides be able to purchase NFTs and take advantage of bet on and other tools to maximize the long-run value of their assets.

” We are excited to be partnering with Step to expand access to crypto invest by making it available to younger customers who want to get a derail start on investing for their future, ” said Edward Woodford, Founder and CEO at Zero Hash. “ Since our origin, we have helped dozens of leading fintechs and rival banks meet growing consumer demand for these fresh types of investment products in dynamic and advanced ways. ” To join the waitlist, where new and existing customers will receive early access and department of education about Step ’ s new investment product, just chew the fat : www.step.com/investing. About Step

step was founded by fiscal diligence veterans CJ MacDonald and Alexey Kalinichenko to provide teens and their families with fiscal tools for today ’ s contemporary bank needs and to promote fiscal literacy for the future. The founding team has 50+ years in compound fiscal technology experience from companies like Affirm, Block, Google, Gyft, Stripe and Wealthfront. The Series C company has raised more than $ 175 million in venture support, backed by Coatue, Collaborative Fund, Crosslink Capital, General Catalyst and several other outstanding investors. step has more than 3 million customers and its fiscal products are powered by its bank collaborator, Evolve Bank & Trust, Member FDIC and insured up to $ 250,000. To learn more, please visit : www.step.com. About the Survey The on-line surveil was conducted via Typeform from March 22, 2022 to March 28, 2022, among a demographically representative sample of 1,359 step customers, aged 13 to 18 .

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