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While Plaid previously integrated with large exchanges on an ad hoc basis, the move is an indication that the company sees crypto as important to its growth. As of today, through Plaid, users can share crypto account information, including asset types, balances and transactions with other services they use. Developers can incorporate the data through the Plaid Investments API, which now supports crypto accounts for use cases like tax advisory services, financial planning and net worth calculations.
“This is something many customers have asked for, particularly companies offering wealth management and financial planning services,” Alain Meier, head of identity at Plaid, told TechCrunch in a recent email interview. He pointed out that 16% of Americans reported investing in, using or trading cryptocurrency in 2021, according to the Pew Research Center. “With high volatility in the markets, we think it’s even more important for people to have a clear, real-time picture of their finances digitally, including what is in their crypto accounts for planning and to make important financial decisions.”
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