Crypto.com has launched a new IRA (individual retirement account) product for U.S. investors that allows them to hold stocks and cryptocurrencies at the same time, The Block reported on March 3. The product is accessible through the Crypto.com app and offers traditional IRA and Roth IRA options.
Investors can hold stocks and ETFs, as well as more than 400 cryptocurrencies including bitcoin and ether, within the IRA account. Some tokens can earn additional rewards through staking or lockup programs, and those rewards are taxed in the year they are received. Overall tax treatment varies depending on IRS rules and individual circumstances.
Crypto.com co-founder and CEO Kris Marszalek (크리스 마르잘렉) stressed that the launch of Crypto.com IRA is "an important step in providing consumers with an opportunity to invest in stocks and cryptocurrencies in one place."
Crypto.com's product is operated as an individual IRA account, unlike a 401(k), and its stock custody method and the list of supported ETFs were not disclosed, The Block said.
Chi-gyu Hwang
delight@d-today.co.kr