If you’ve ever dreaded the paperwork and wait times when moving investments from one broker to another, Crypto.com has some good news. Today they’ve announced a partnership with Plaid to let U.S. users shift their portfolios over in under a minute, without selling a single share (and without triggering a tax bill).
At the heart of this upgrade is Plaid’s new Investments Move tool, which plugs right into the ACATS system that handles securities transfers. Rather than downloading PDF statements, typing in account details, and crossing your fingers, you now simply point Crypto.com’s app at your existing brokerage account, grant permission, and sit back while Plaid does the heavy lifting. It gathers everything it needs, account numbers, holdings details, and the lot history, and hands it off for a seamless transfer.
“We are thrilled to partner with Plaid to make it easier for our customers to transfer their brokerage accounts and assets from other platforms to ours,” said Travis McGhee, Managing Director, Global Head of Capital Markets at Crypto.com. “Enhancing the customer experience with innovative products and partnerships are critical to our overall growth, and utilizing Investments Move is just another step in creating a best in-class platform.”
Open Finance
Beyond speed, Crypto.com is sweetening the pot by offering up to a 3% bonus on transferred stocks, so you’re rewarded for bringing your positions over, whether it’s individual equities or your IRAs. Plaid rolled out Investments Move in October last year, aiming to bring the same “open finance” magic from bank accounts to brokerage accounts.
“Investments Move is another example of how open finance is making it easier for people to manage their money,” said Brian Dammeir, Head of Payments and Financial Management at Plaid. “Manual ACATs processes are prone to errors that cause frustrating rejections for consumers. By powering Crypto.com’s transfer flow, we’re helping millions of investors move assets seamlessly and freeing up their teams to focus on growth, not ticket-driven support.”
By automating data entry, Plaid said goodbye to most of those headaches, and now Crypto.com customers benefit directly. If you are wondering what this means for you, here are some key points:
- No forced sell-offs: Move your securities without converting to cash, keep your tax strategy intact.
- Instant setup: Link your account and, boom, you’re almost there.
- Bonus boost: Up to 3% back on the fair-market value of transferred stocks.
Crypto.com, founded in 2016, now serves over 150 million users worldwide and boasts top marks in security and compliance. Their mantra, “Cryptocurrency in Every Wallet™,” drives every upgrade. This Plaid integration is just the latest example of how they’re making sophisticated financial tools feel as simple as sending a text. Ready to make the leap? U.S. customers can start using Investments Move today and have their investments whisked over in a flash, no stamps, no PDFs, no stress.
