Yieldstreet, an alternative investment platform that has funded more than $3 billion in private market opportunities since inception, is launching a crypto wallet, a tool that allows investors to deposit Bitcoin and Ethereum with the option to seamlessly convert them into fiat currency to invest in Yieldstreet’s offerings.
“Yieldstreet’s crypto wallet can allow you to safely store and – most importantly – to swiftly convert cryptocurrency. At Yieldstreet, we believe investors who own Bitcoin or Ethereum1 – and potentially some additional cryptocurrencies in the future – should have the flexibility to deposit them just as they would fiat currency and should not have to go to third parties for conversion if they decide to diversify away from crypto and invest in other alternative assets,” said Michael Weisz, Founder and President of Yieldstreet.
Investors who want to deposit their Bitcoin or Ethereum on Yieldstreet can create a specific crypto wallet and use their Yieldstreet wallet’s address to transfer funds from other exchanges or from their personal crypto wallets, a widely-used industry protocol. The currency will be stored in a custodian-managed secured account.
The wallet can be utilized to invest in Yieldstreet’s offerings, across a wide array of alternative asset classes, including opportunities for exposure to digital assets through third-party funds. Subject to the approval of an investment request, Yieldstreet will automatically convert to USD via a trusted third party.
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Yieldstreet is reimagining how wealth is created by providing access to alternative investments previously reserved only for institutions and the ultra-wealthy. Yieldstreet’s mission is to help millions of people generate $3 billion of income outside the traditional public markets by 2025.