Onu Launches First-Ever Crypto Custodial accounts
29 Mar, 2022, 11:57 ET
Generational wealth start-up helps offer children long-term benefits with 22 available cryptocurrencies at launch.
SAN FRANCISCO, March 29, 2022 /PRNewswire/ -- Today, investment technology platform Onu announced new functionality that allows parents to create cryptocurrency custodial accounts for their children. At launch, Onu supports twenty-two cryptocurrencies, including Bitcoin and Ethereum among their offerings.
"We're proud to be the first player to offer custodial accounts that support cryptocurrencies," says Onu CEO and co-founder, Anne Mandich. "This helps provide a secure option that legally holds the investment under the child's name."
Cryptocurrencies are among the more volatile investment options available today and are often made riskier by day trading habits that aim to take advantage of fluctuations for quick wins. Through the use of custodial accounts, Onu helps provide a long-term way to buy and hold Crypto on a child's behalf.
"We're excited to open more exposure to diverse asset classes on our platform" shares co-founder and Chief Product Officer Caleb Marshack. "We believe that by creating more opportunities to diversify portfolios, we can help provide financial empowerment for up-and-coming generations."
Following Onu's revolutionary model that empowers communities to drive generational wealth together, friends and family can easily contribute cryptocurrencies of any amount into a child's fund — regardless of their prior familiarity with cryptocurrency investing.
Founded in 2021, Onu is a new platform that helps families and friends build children's financial futures through investment gifts of stock and cryptocurrency. Onu is a free platform for parents with no monthly fees that makes it quick and easy to create an account for their child and start building a portfolio from thousands of stocks and cryptocurrencies. As their investments grow, Onu provides parents and children with educational opportunities about financial literacy while building wealth at the same time.
Onu offers Crypto investing for a child's custodial account through Alpaca Crypto LLC ("Alpaca Crypto"). Alpaca Crypto is not a member of SIPC or FINRA. Cryptocurrencies are not stocks and cryptocurrency investments are not protected by either FDIC or SIPC.
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