Step to let teens invest in crypto

As a next step in their financial journeys, they want to be able to offer teens the ability to budget, spend, save, build credit, and invest for their financial futures directly within the Step App.

Step had previously offered a P2P spending app with a Visa spending card to build credit on cash transactions.

With similar parental controls and permissions, later in 2022, Step will offer a library of over 30 crypto tokens, NFTs, and on-chain wallets for every customer and US securities through partner Zero Hash. It’s one of the first stock financial app to let customers under 18 buy, sell, and receive crypto.

85% of Step’s teen customers open their first bank account on the platform, and 95% say that the firm has helped improve their financial literacy.