Alpaca and Passiv partner, bringing Passiv's investing service to the US
Las Vegas NV, October 29, 2019 – Passiv (https://getpassiv.com) is announcing its partnership with Alpaca (https://alpaca.markets), a commission-free API-first stock broker that caters to software developers. Alpaca’s clients can now build their own personalized indexes or replicate their robo-advisor portfolios without having to write a line of code.
“We’re excited to partner with Alpaca because their robust API will enable us to build more powerful features, create amazing user experiences and help more people to invest.’‘ said Brendan Lee Young, CEO, Passiv.
“We’re very excited to see Passiv building a robo-advisor product on top of our platform. This proves Alpaca’s community-driven approach and brings us one step closer to our vision of creating a developer-first investing infrastructure.” added Yoshi Yokokawa CEO, Alpaca. “We plan on working closely with Passiv in the future to further support their feature development on Alpaca’s infrastructure.”
With major US online stock brokerages like Charles Schwab, TD Ameritrade, E*Trade, and Fidelity dropping their trading commissions, it raises the question of how these brokerages plan to differentiate themselves. Lee Young believes that having open APIs and faster processes for vetting and partnering with companies like his could be one part of the solution.
“It’s really hard to get access to online brokers’ APIs and not all APIs are of good quality. In my opinion brokerages will need to get better at partnering, improving their APIs and also curating the right tools for clients if they want to compete.” said Lee Young. “Our developers were elated by how easy it was to integrate with Alpaca. Personally, I was impressed by their responsiveness and openness to making significant improvements to their API to accommodate us.”
Traditionally, investing at online brokerages required clients to use spreadsheets to help them manage their investments and go through a manual process when buying and selling shares. In the case of Alpaca’s clients, they use self-coded algorithms to help them manage their investments. Now Alpaca’s less sophisticated clients and developers who don’t want to write code can safely link their accounts to Passiv via Alpaca’s API, build their portfolios and use Passiv’s software to help them keep their portfolio balanced.
To learn more, contact Passiv at email@example.com.
Passiv (https://getpassiv.com) is a Canadian fintech startup headquartered in New Brunswick, Canada. Passiv specializes in building easy-to-use portfolio management tools for self-directed investors. The company’s mission is to empower more people to manage their wealth at online stock brokerages. The company is currently partnered with Alpaca and Questrade, a Canadian online brokerage.
Alpaca (https://alpaca.markets) is a Silicon Valley based developer-first API stock brokerage that modularizes the world’s investing activities. The company’s products enable anyone to build and connect applications and algorithms to buy and sell stocks with zero commissions. The company is backed by some of the top investors in the industry globally including Spark Capital, Social Leverage, Y Combinator, and Portag3. Securities are offered through Alpaca Securities LLC.