The CEX said its IRAs are the first crypto-native retirement accounts in the U.S. to offer crypto and traditional equities in one account.
Centralized exchange (CEX) Crypto.com has unveiled retirement account in the U.S. the let users invest in both cryptocurrency and traditional equities in a single account.
The CEX says that the IRAs are a first of its kind for a crypto native firm, according to a press release published today, March 3.
“The launch of Crypto.com IRAs is our latest significant step in providing consumers the ability to act on and invest in financial opportunity,” Kris Marszalek, co-founder and CEO of the platform said in a statement.
Per the announcement, the Crypto.com IRAs offer features such as tax-deferred or tax-free growth, contribution matches of up to 5%, and zero account fees.
The move comes just a week after the CEX announced it has received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish Foris Dax National Trust Bank, positioning itself as a federally regulated qualified custodian, as The Defiant previously reported.
Founded in 2016, Crypto.com is currently ranked 10th among CEXs on CoinGecko by 24-hour trading volume and trust score, with about $2.8 billion in trades today.
In April, Fidelity launched dedicated cryptocurrency retirement accounts with exposure to several major crypto assets, as The Defiant reported. The tax-advantaged accounts from the TradFi giant, however, only offer crypto investment, while clients need to keep a separate IRA account for their traditional investments.
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Source: https://thedefiant.io/news/cefi/cryptocom-launches-crypto-and-stock-iras