Digital investment advisor Betterment is joining the crypto goldrush through the acquisition of Makara. Financial terms were not disclosed.
Robo-advisor Betterment, which last year joined the unicorn club, offers Americans automated investing and retirement solutions alongside everyday services for spending and saving.
The Makara acquisition will see it add the ability to invest in expert-built, diversified crypto portfolios
Sarah Levy, CEO, Betterment, says: "Crypto is here to stay and Betterment wants to live our promise of long-term diversification and to provide our customers with the best variety of assets in the marketplace.
"Makara is unique in offering consumers managed crypto portfolios combined with the guidance and ease-of-use that have defined Betterment."
Makara's team of crypto experts and engineering talent will join Betterment upon the closing of the transaction, which is expected later this quarter subject to customary closing conditions.