The partnership will initially allow customers to buy, hold and sell crypto in the US directly through Douugh’s Crypto Jar feature on the Douugh platform. Customers will also be able to spend using the cryptocurrency of their choice through the Douugh Mastercard debit card.

“Cryptocurrency is now at a maturity point that it has become a favored investment for millennials and gen-z who are hungry for yield and access to liquidity. The key for us is facilitating this activity responsibly” said Andy Taylor, Founder & CEO of Douugh.

“Cryptocurrency is becoming an essential component of one’s overall diversified investment portfolio, and we are excited to partner with one of the largest and most regulated exchanges in the digital asset space to provide our customers with the ability to grow their cryptocurrency savings over the long term.”

Zero Hash is a digital asset settlement and custody platform that specializes in building enterprise-grade solutions. It is registered in the US with FinCEN and can operate in 51 US jurisdictions as a money service business, money transmitter, or virtual currency business and it holds a BitLicense charter issued by the New York Department of Financial Services. Zero Hash is one of the most trusted operators in digital assets. Through its platform, Zero Hash powers the cryptocurrency offerings of other leading fintechs such as MoneyLion and Wirex.

This feature further broadens the Douugh Wealth offering, which recently saw the launch of managed portfolios ‘Portfolio Jars’ linked to dedicated savings goals.

“We agree that there is a clear generational change in how people invest their money, and crypto offerings give fintechs like Douugh a competitive edge to serve millennials and gen-z. Zero Hash is a turnkey solution that makes it easy for enterprises, like Douugh to enable crypto,” said Edward Woodford, the CEO at Zero Hash. “This partnership allows Douugh customers to access an exciting new asset class while Zero Hash manages the underlying infrastructure and regulatory complexity of crypto markets.”

The Crypto Jar offering will allow consumers to directly participate in digital asset investing and diversify their portfolios across cryptocurrencies including Bitcoin (BTC) Bitcoin Cash (BCH), Ethereum (ETH), PAX Gold (PAXG), and Litecoin (LTC). The global market for cryptocurrencies surpassed $2 trillion earlier this month, and around 15% of Americans hold some type of cryptocurrency. As US household incomes continue to rise in the wake of the pandemic, Douugh’s Crypto Jar will allow even more Americans to participate in the decentralized financial ecosystem.

The partnership with Zero Hash commences immediately for an initial 3-year term with a 90-day notice period for termination by either party. Under the partnership, Douugh customers will agree to the terms and conditions of Zero Hash when they activate the Crypto Jar offering. The partners will have a revenue share model based on customer activity. As this revenue is based on multiple variables and may vary between jurisdictions, it is indeterminable at this time, however, as this functionality is of significant interest to Douugh’s target market, this is deemed to be a material partnership for Douugh as it looks to ramp up into FY2022. Launch of the Douugh Crypto service is subject to receiving final bank and regulatory approval in each jurisdiction.