Plaid Adds Crypto Account Data to Its Platform

The information will be in read-only mode.

AccessTimeIconJul 14, 2022 at 12:00 p.m. UTC
Updated May 11, 2023 at 6:53 p.m. UTC

Plaid, an online platform that aggregates users’ financial information, said it is extending its reach to include accounts from cryptocurrency exchanges, starting with Binance.US, Kraken and Gemini.

The platform is now able to show information such as balances, transactions and the type of crypto assets held from the three exchanges, the San Francisco-based firm said Thursday.

Plaid already offers crypto holdings information for apps like Robinhood and SoFi, and it plans to connect to other crypto account providers, with and BitGo being integrated later this year.

“Up until now, a lot of people have had separate crypto and traditional finance lives,” Alain Meier, Plaid’s head of identity, said in an interview. “We want to help consumers create a holistic view of their finances, so this move is especially important given that something like 60% of millennials now own crypto.”

The platform is useful for financial planning, tax assessment and net worth calculations, Meier said, as it includes balances from investment accounts, ranging from brokerage and retirement accounts, to 529s (a type of tax-advantaged saving plan for college fees) and U.S. health savings accounts (HSAs).

Firms like Plaid have been part of an explosion in fintech apps as banks gradually opened up to digital innovation. Crypto exchanges, like banks, are nervous about what happens to their customer information, given the continual threat of sophisticated hack attacks.

“This is a read-only feed of transactions to be included in things like wealth-management apps or transfer apps,” Meier said. “There’s no potential access for these apps to then go ahead and steal your crypto or anything. We also have robust due diligence and risk management policies for all of the customers who we bring onto the Plaid network.”

Plaid already works with a number of exchanges, including Coinbase, through its identity verification and bank-linked account funding services. The fintech had also shown a keen interest in decentralized finance (DeFi), back in 2020’s “DeFi summer.” An API, or application programming interface, is a way for two programs to interact and share data.

“Plaid is composed of a lot of people who are just nuts about crypto,” Meier said. “Over time, we want to help bridge that gap between Web2 and Web3 and build developer-first tooling products that can do that.”


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Ian Allison

Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.