Thu, August 7

Crypto.com Integrates with Plaid to Enable Seamless Asset Transfers Without Implications

Crypto.com Integrates with Plaid to Enable Seamless Asset Transfers Without Implications Exchange News
  • Investments Move automates brokerage account transfers in a digital and safe manner while also reducing the complexity of operations.
  • In the United States, users of Crypto.com have access to the Investments Move service.
  • Plaid’s Investments Move is designed to simplify the process of data collecting for the Automated Account Clearing and Transfer Service (ACATS).

Today, Crypto.com made an announcement about a new integration with Plaid. This integration will enable users of Crypto.com to effortlessly move their assets from other platforms to Crypto.com without having to sell and suffer taxes as a result. The service is made possible by Plaid’s new product, Investments Move, which automates brokerage account transfers in a digital and safe manner while also reducing the complexity of operations. As a result, the amount of time it takes for a user to properly make a transfer may be reduced to less than a minute. Participants have the opportunity to receive a stock transfer bonus of up to three percent.

Plaid’s Investments Move, which was introduced in October 2024, is designed to simplify the process of data collecting for the Automated Account Clearing and Transfer Service (ACATS). This service is responsible for the transfer of U.S. assets that are not converted into cash.

By eliminating the need for human data input and reducing the number of mistakes that often result in failed transfers, using Plaid to link accounts and get information for an ACATS transfer removes the need for manual data entry. Users no longer have to download brokerage statements and input information into a form. This need has been eliminated. Investments Move is able to record the necessary information in a way that is both effective and efficient, allowing for the transfer of assets from one account to another without the need to sell securities or pay taxes. A new brokerage account or an IRA transfer are two examples of situations in which it might be used.

Travis McGhee, Managing Director, Global Head of Capital Markets at Crypto.com stated:

“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. 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.”

Brian Dammeir, Head of Payments and Financial Management at Plaid stated:

“Investments Move is another example of how open finance is making it easier for people to manage their money. 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.”

In the United States, users of Crypto.com have access to the Investments Move service.

A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.

Little Pepe