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As an industry first, Public, the digital investing platform, plans to sell fractions of certain Treasurys and corporate bonds to customers at around $100, with hopes to eventually offer fractional bonds for as low as about $10.
Owning bonds outright isn’t common for everyday investors. Investing in bonds usually requires a minimum of about $1,000 or $5,000. Only about 1% of U.S. households owns bonds directly, according to the 2022 Federal Reserve Survey of Consumer Finances. Public’s clearing firm, Apex Fintech Solutions, in October announced a pending launch of a fractional fixed-income investing platform, which Apex said is the first in the industry.
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