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September 29, 2021Blog Posts

Affirm says crypto investing will soon be available to customers with savings accounts

CNBC

Affirm, an online lender that helped popularize the “buy now, pay later” business model before moving deeper into banking, just became the latest fintech company to hop on the bitcoin bandwagon.

In an investor presentation Tuesday, Affirm CEO Max Levchin said his company is working on a feature that will let consumers “buy and sell cryptocurrencies directly from their savings account.”

“It’s time for Affirm to support cryptocurrencies in a way that feels organic to us,” Levchin said, during the two-hour presentation. “We will soon leverage our savings accounts to seamlessly enable crypto ownership.”

Affirm did not provide a timeframe for the release. The company included a deck with its presentation and had one slide that said “New and coming soon” followed by “Crypto.” The slide showed an image of the Affirm mobile app, with “Bitcoin holdings” underneath the savings account.

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Crypto. The buzzword you hear everywhere from the news to friends hyping it up. Has the craze gone mainstream and reached businesses?

Big names like Microsoft, AMC, Starbucks, and AT&T are in, but what do small businesses think? The Strawhecker Group (TSG) used new survey data from nearly 600 small businesses in the U.S. to illustrate their knowledge, attitudes, and acceptance of cryptocurrency.

Download the infographic
Payments professionals across the ecosystem will find this infographic to be a great resource as the market continues to evolve. Are you working with merchants on a crypto strategy?

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