'Brokers who drag their feet will fall behind': Stake platform adds crypto


As cryptocurrency continues to enjoy mainstream uptake, trading platform Stake has added the option of crypto to its platform.

"The decision to take on cryptocurrency was a natural step in offering our customers greater access to financial opportunities," says Stake chief executive and founder Matt Leibowitz.

"Crypto is taking the world by storm and has established itself as a legitimate asset class. Investors are demanding it and brokers who are dragging their feet will fall behind."

stake app crypto

Crypto is the latest offering from Stake, which launched in the Australian market offering access to US shares, after it added CHESS-sponsored ASX trading at $3 flat brokerage in late 2021.

"Younger Aussie investors are looking for access to a diversity of investment opportunities across established and modern asset classes, in one place," Leibowitz adds.

"They want to buy into industries and ideas changing the world near and far and not be limited by borders."

Stake crypto product manager Jeroen Van Amerongen says Stake customers are adopting new forms of investments rapidly.

"Our challenge is to innovate at the pace investors are moving and not simply rest on our laurels," he says.

"This isn't just about adding a few coins to your platform. It's about building a wealth management experience for the next generation.

"We've demonstrated that sophistication doesn't have to be complex with our US and ASX platform and now it's time to break the same barriers to crypto."

This article first appeared on Financial Standard

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Elizabeth McArthur was a journalist at Financial Standard from March 2019 to April 2022. She has a bachelor's degree in journalism from UTS and a master's in creative writing from Melbourne University.
Peter Ralph
March 16, 2022 7.30pm

Hamish Douglass describes cryptos as modern-day tulips. He's not wrong. I won't say what Buffet and Munger think of them ... still they wouldn't know, they're dinosaurs.