Latin America's Public.com Sproutfi Onboards Passfolio's Client Portfolio In Brazil

Sproutfi announced the acquisition of Passfolio’s client portfolio in Brazil. From hereon, the investing social network will provide Passfolio clients with a platform for investing in the US.

Investing in stocks and ETFs will be transparent, and come at no cost. DriveWealth will continue to provide custody while assets in Passfolio’s PassCard, PassEarn, and Cripto won’t migrate.

"We were born to contribute to the freedom of our clients, and we do this by committing to no brokerage fees, no minimum value transfers, and building a robust environment of tools, information, and investment knowledge," said Tyler Richie, CTO and co-founder of Sproutfi.

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Why It Matters 

The launch and expansion of Sproutfi come as investors increasingly trust themselves and their embedded networks.

The firm cuts out the jargon and brings social trading to an environment free from the gamification of competitors, Sproutfi CEO and co-founder Ruben Guerrero said to Benzinga last year. Users don’t even have to have an account to contribute or derive value from the platform.

“It’s very easy for someone sitting in Brazil to open an account in the U.S., in a matter of minutes,” Guerrero added. "We allow them to fund accounts and start trading fractionally with as little as one U.S. dollar."