By
Temitope Olatunji
April 18th, 2024
Citing heavy client demand, Investment advisor Wealthfront announced Coinbase integration which will allow its users to track cryptocurrency investments. Savings and checking accounts to be provided within the first few months of 2019.
Wealthfront, the SEC-registered investment advisor has now announced its support for Coinbase accounts and wallets. As part of this integration Wealthfront users can now track their cryptocurrency investments using the Wealthfront’s financial planning tool. Wealthfront says that there was a huge demand from its clientele who has shown a huge willingness to explore the emerging cryptocurrency sector.
In an announcement made on its official blog post, Wealthfront said that the new feature will be available to the already registered account holders with Wealthfront. Moreover, this feature will also be available to those using Wealthfront’s free financial planning services.
Furthermore, the investment advisor also laid its vision aligning it with the latest decision to integrate the Coinbase accounts. The company wrote:
“We want to help you optimize and automate your finances to ensure you reach your unique financial goals. To achieve that vision, we need to incorporate a comprehensive and constantly updated view of your finances. That’s why enhancements, like our new integration with Coinbase, are so important.”
Merits of Fully Automated Financial Planning
In its blog post, Wealthfront also goes to mention the benefits of fully automated financial planning solution. It also says that financial planning solutions will continue to improve and evolve with the availability of more data through API. Talking about the API options, Wealthfront said:
“Access to your Coinbase account information is just the latest example. Over time you can count on us to incorporate far more data, from your accounts and third-party providers (like our recent announcement with Intuit’s TurboTax), to deliver even better financial advice.”
As the company expands its services in the financial space, Wealthfront told MarketWatch that it is already planning to provide the savings and checking accounts within the first few months of 2019. However, these features are currently in the beta-testing phase.
Wealthfront’s VP for Design, Kate Aronowitz, expressed excitement over the new Coinbase integration. Aronowitz said:
“Our engineering team rebuilt our front-end architecture to display results based on original research from our experienced and talented team. The result is an entirely redesigned Dashboard that will be the center of your financial life, from which all other services can plug into and provide you a complete picture of your net worth today and tomorrow.”
On the other hand, Coinbase is taking some concrete steps to expand its footprint in the global financial space. Last week, the company announced its expansion into six new European nations including Lithuania, Iceland, Andorra, Gibraltar, Guernsey and the Isle of Man. Zeeshan Feroz, Coinbase’s U.K. CEO, said:
“I think you can expect a more aggressive approach to us adding more countries in the coming months. Much of what we’re doing here is driven by customer needs and what we’re seeing in the market.”