Passfolio

Passfolio is the brand name of Panchain, Inc., an American fintech company headquartered in San Francisco, California.[2] The company’s first product is a mobile and web platform that offers people in more than 170 countries the ability to invest in US stocks, ETFs and REITs from the US market through Passfolio Securities, as well as cryptocurrencies through Passfolio Financial.[3]

Passfolio
Private
Founded2018
FounderDavid Gobaud
Headquarters
San Francisco, California
,
United States
ServicesStockbroker
Electronic trading platform
Number of employees
20 (2020[1])
SubsidiariesPassfolio Securities, LLC
Passfolio Financial, LLC
Websitewww.passfolio.us

Passfolio Securities is a member of FINRA and of the Securities Investor Protection Corporation, and is registered with the U.S. Securities and Exchange Commission.[4][5] Through Passfolio Securities, the company offers commission-free US stock trading in its platform. The company’s revenue comes from currency conversion fees and interest on uninvested cash.[6]

Passfolio Financial is a United States money services business registered with FinCEN, which offers cryptocurrency trading and funding in the Passfolio platform.[3]

History

Passfolio was founded in 2018 with the mission of “democratizing investment opportunities and providing fast, easy, and secure access to the US market”.[6] The company’s idea came when its founder, David Gobaud, was traveling the world and saw how much demand there was for better investments.

Before Passfolio, David Gobaud previously founded Pluto Mail, an email service platform and Yoshi, a Y Combinator backed company.[7]

In January 2019, Passfolio launched its website with a waitlist for users interested in getting early access to the product.[7] During the first 8 months of waitlist, 16,000 people signed up for Passfolio’s waitlist.[7]

In June 2019, a first version of the Passfolio app was released in the Apple’s App Store and Google’s Play Store.[8][9]

In August 2019, a beta program of Passfolio went live, allowing beta testers to buy and sell more than 3,000 US stocks, ETFs and REITs with no minimums requirements to start.[7] In November 2019, Passfolio launched its stock trading features publicly in more than 170 countries around the world.[7]

In March 2020, Passfolio launched cryptocurrency funding and trading features through Passfolio Financial.[3]

Products

Stock, ETF and REIT trading

Through Passfolio Securities, Passfolio offers access to more than 3,000 stocks, ETFs and REITs from the US stock market to investors in more than 170 countries. Passfolio charges no commission fees for assets priced $5 or more and allows fractional shares investing, so users can trade small amounts.[6]

Cryptocurrency trading

Since March 2020, Passfolio offers users the possibility of funding their accounts using cryptocurrencies through Passfolio Financial. Users are able to deposit cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Zcash to their accounts at Passfolio Financial and trade them in the mobile app.[3] Passfolio also allows users to convert their cryptocurrencies into U.S. Dollars through Passfolio Financial, transfer the proceeds to their brokerage account at Passfolio Securities and use the balance to purchase securities.[3]

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References
  1. "Passfolio LinkedIn Profile". LinkedIn. Retrieved August 7, 2020.
  2. "Passfolio Company Profile". AngelList. Retrieved August 7, 2020.
  3. "Passfolio lança primeiro serviço de negociação de ações americanas com suporte a depósitos de criptomoedas". CriptoFácil (in Portuguese). 2020-04-16. Retrieved 2020-08-13.
  4. "As taxas de juros estão em queda. Veja o que você pode fazer com seus investimentos". ADVFN News (in Portuguese). Retrieved 2020-08-13.
  5. "BrokerCheck - Find a broker, investment or financial advisor". brokercheck.finra.org. Retrieved 2020-08-13.
  6. "Brasileiros agora podem investir nos EUA sem taxas de corretagem". ADVFN News (in Portuguese). Retrieved 2020-08-13.
  7. "How Passfolio Went From Zero to 16,000 People on Their App Waitlist". KickoffLabs. 2020-03-26. Retrieved 2020-08-13.
  8. "Passfolio - Invest in the US - Apps on Google Play". play.google.com. Retrieved 2020-08-13.
  9. "‎Passfolio - Invest in the US". App Store. Retrieved 2020-08-13.
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