Crypto critical to Afterpay’s post-merger road map

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Crypto critical to Afterpay’s post-merger road map | clancyyeates

, and that it was considering how to include the asset class on its platform.

Ms Hatton, the company’s executive vice president for new platforms, did not say when Afterpay would offer crypto services. Its rival Zip Co is planning to offer crypto trading within the next year. Afterpay makes revenue by providing short-term instalment loans known as “buy now, pay later ” products, but the banking app is a sign of the company seeking out new sources of income.Morningstar analyst Shaun Ler said offering users access to crypto assets was a useful “marketing tool” in gaining younger customers and cross-selling more products, but providing crypto-trading would not be a significant source of earnings for the company.

 

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