Acorns, a popular investing and savings app, announced a former Amazon lead as company president and head of day-to-day operations.
Earlier today the financial services app revealed David Hijirida as the new president. Hijirida was an executive at Amazon and CEO of the digital bank Simple Finance. During his 12 years at Amazon, he managed global payments and advertising.
This new hire comes as Acorns expected a public listing later in the year. The public listing is with the intentions of accelerating its mission of wealth building and overseas expansion. Earlier this year the popular investment app Robinhood also went public.
Acorns CEO David Kerner said Hijirida has the right amount of fintech experience for the role. “David obviously has a great depth and breadth of financial services and technology experience,” Kerner said to CNBC. “He has a great combination of fintech, payments, operations and also product development experience.”
Currently, Acorns has over 4 million active paid subscriptions. According to Kerner the app aims for 10 million in the next four years.
Crypto-Filled Future
Until now, Acorns remained more reserved in its approach to investments. They currently don’t allow users access to cryptocurrencies due to their known volatility. However, with the acceleration of crypto adoption my more mainstream financial service providers Acorns plans their next move.
“We are going to let people customize their portfolios and add individual equities and crypto into a slice of their diversified portfolios, much the way a money manager would advise you to behave,” Kerner said.
There is no official launch date but the CEO says it is in the near future.
Acorns is one of many mainstream companies with new hires in light of crypto-related expansion. Earlier this summer Amazon itself released a job posting in search of a crypto strategy executive. As the crypto space continues its expansion, mainstream companies will also expand their venture into crypto.
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