Open banking platform Plaid has added a number of cryptoasset exchanges to its network.
In Brief:
Binance.US, Gemini, Robinhood and SoFi are all now available on the Plaid network.
This means that customers will be able to securely share information of accounts on these exchanges with external apps.
Plaid says it plans to add more exchanges, including Blockchain.com and BitGo, to its open banking offering later this year.
What does this mean?
The idea of open banking is to enable the sharing of account data securely – enabling customers to see a single view of their finances in one place. This still remains limited, however, usually to current accounts and fiat currencies. Plaid’s addition of crypto exchanges means customers can have a fuller picture of their finances including any cryptoassets they own.
