FinTech News
Public App Adds Corporate and Treasury Bonds Feature
The FinTech trading app Public has announced new investment options for its members.
About the features:
Public is now rolling out the ability for customers to invest fractionally in corporate and Treasury bonds. This capability will be introduced on both the mobile and desktop interfaces for the service. According to Public, the addition comes as demand for fixed-income products increases. In addition to these bond types, the app will also continue to support the trading of stocks, ETFs, cryptocurrencies, Treasury bills, and alternative assets.
Using Public’s Bond platform, users can explore options using several filters. In addition to separating corporate and Treasury bonds, customers can view bonds by yield, maturity date, S&P rating (investment grade or speculative grade), and more. Currently, all Public investors can view the new bonds interface and start a watchlist while the ability to trade will be available to all members “soon.”
About Public:
Launched in 2019, Public is a trading platform initially described as a “social investing app.” In 2021, the app made headlines when it announced plans to move away from Payment for Order Flow — an arrangement employed by many other commission-free trading apps. While the social aspect of Public remains, the service has since deemphasized that aspect and instead focused on adding more investment options for customers.
What they’re saying:
Announcing the new feature and the reason behind doing so, Public co-CEO and co-founder Jannick Malling said, “For the last 15 years, the bond markets have been largely irrelevant for retail investors, but after an unprecedented set of rate hikes, retail demand for fixed income products has exploded, and investors are experiencing friction with existing offerings being archaic and having high minimums.” Malling added, “Public pioneered fractionalization for equities, and we always wanted to broaden that feature to more asset-classes. After launching treasury bills earlier this year, we’re now doubling down by reimagining the entire user experience of how retail finds, evaluates and invests in the full universe of corporate and treasury bonds.”
Similarly, Public’s GM of Brokerage Sam Nofzinger stated, “Historically, direct bond access has been limited to institutions and high-networth investors. Providing our members with the tools and information to invest in these securities will help them to continue to diversify their portfolios and construct unique bond strategies that fit their needs – just like institutional investors.”
My thoughts:
Taking a look at Public’s new feature for myself, it definitely appears like an appealing concept wrapped in a sleek package. Therefore, it seems likely that this functionality will be a hit with users. Personally, I know I’ll be keeping an eye on the platform and perhaps giving this bonds feature a try once it’s fully rolled out.
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