A shopper looks through clothes on her iPad device.
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.
Affirm is competing in a crowded market, as online lenders, mobile investing apps and crypto exchanges try to lure younger consumers. While the emerging fintech companies started with niche offerings, they’re all trying to bring more banking and financial services to people who loathe going to physical branches and expect products to have simple user interfaces.