The news: The US-based digital broker is the latest of its peers to make the crypto plunge, letting users buy, sell, and hold 10 cryptocurrencies, per its blog post.
A look at Public.com: Launched in September 2019, Public.com has tried to stand out from the likes of Robinhood by avoiding risky investment products such as options and margin trading. In February, it raised $220 million at a $1.2 billion valuation and reached 1 million users.
Crypto trading made safe? Its focus on safer investing makes its foray into crypto surprising given the sector’s infamous volatility, even offering access to Dogecoin.
Bottom line: Crypto exchanges and wallets now command the leading share in trading app downloads, pushing digital brokers into the asset class—Titan and Interactive Brokers recently bowed to pressure from consumers as well. Now that cryptos are table stakes, users will flock to whichever app offers the widest range of assets at the best price, which is why eToro added a DeFi portfolio, for example.