The popular digital wealth management platform, YieldStreet, announced that it would be entering a partnership with Citi. This partnership is strategic as it allows YieldStreet to connect with investment opportunities in telecommunications, shipping, aviation, and real estate.
YieldStreet went through a series B funding and raised more than $50 million in 2019. Currently, the company has its sights set on becoming the largest wealth management platform to a diversified audience. YieldStreet aims to become an integral part of the wealth management sector by helping investors “earn passive income with alternative investments.”
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Why is YieldStreet special?
It opens up access to different investments to investors. Investors may have to invest varying amounts that mostly range from $20K and more. The idea is that these investments aren’t like those of discount stocks where you can pick up shares for as little as $50.
For YieldStreet, you’d have to invest a substantial portion of funds in participating and earning over time, but it makes sense because earning passive income requires significant investments for meaningful and continuous returns.
That’s how it works with stocks, too. You don’t get meaningful passive returns with dividends by investing $5 or $500. You get it by allocating $50,000, $100,000, and more.
Of course, not everyone has $10,000 or $20,000 lying around like spare change. YieldStreet is only open to accredited investors at this time and those investors should have an annual income of at least $200K, or joint income of $300K/year.
Accredited investor participants can use their YieldStreet Wallet. Simply deposit cash in the YieldStreet wallet and earn interest.
Currently, the firm has opened up institutional grade products but more options will be available in the near future. Democratization of access to financial products is a trend. Companies like Square and other DeFi segments are constantly in search for ways to provide further financial access.
The company was founded five years ago and has processed more than $1.2 billion in investments. The firm is based in New York but has investments in various parts of the world such as Greece and BRIC countries such as Brazil.
YieldStreet and Citi
Citi has decided to work with YieldStreet through the Spread Product Investment Technologies (SPRINT) division to support the company.
CEO Milind Mehere notes: “YieldStreet is thrilled to continue our focus on first-to-market products, enabling our investor community to access institutional assets across the yield spectrum. We are excited and honoured to work with the best-in-class team at Citi, and to create a new opportunity for YieldStreet, our investors, and our partners.”
The growth of YieldStreet shows the demand by general investors to have institutional access, and it also shows that the democratization of investments is slowly occurring. Further, it is critical to realize that as more have access to investments, more education is needed to understand why one decision makes sense over the other. These products show the need for financial knowledge wisdom such that investors or would-be investors will have the funds to allocate investments responsibly.
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