Paybby, which started as a marketing agent to help the underserved get access to Paycheck Protection Program (PPP) loans, began offering banking services this year after it bought Overland Park, Kansas-based Wicket for an undisclosed amount in January 2021.
The notion of crypto offerings has been fielding strong interest from the startup's customers — something Paybby Marketing Director Miranda Tan said initially came as a surprise.
Paybby is in partnership talks with several crypto exchange firms about adding their services to its app, Tan said.
The neobank is allowing its customers to sign up as beta testers for its crypto investment product. It also plans to distribute digital tokens to beta testers via crypto "airdrops," a popular crypto marketing technique used to drum up interest in a particular token.
Paybby’s expansion into crypto comes as the growing interest in the space is causing financial institutions to decide on which side of the digital-asset fence they want to stand.
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