DriveWealth, a start-up helping fintech firms offer stocks, is looking to expand into crypto trading after being valued at $2.85B. The company will be launching two subsidiaries to handle and execute trades. DriveWealth looks to differentiate itself from consumer-facing firms including Coinbase and Robinhood by being a behind-the-scenes player and owning an end-to-end crypto-trading system. The company recently acquired Crypto-Systems to enable bitcoin and ethereum trading by April or May.
SoftBank-backed fintech DriveWealth is adding crypto to take on Coinbase’s ‘unsustainable’ fees