Investment platform Stake brings stock lending to NZ
Stake founder and chief executive Matt Leibowitz said he was excited to bring the “first-of-its-kind product” to retail investors in New Zealand. (Photo: NZME)
Digital brokerage Stake will pay its users to lend out their shares to institutional investors in a new feature being added to the platform in early July. Users will be able to earn passive income on their United States stocks by allowing Stake to lend those securities out to other investors in return for 20% of Stake's share of the revenue split. This helps Stake by adding another revenue stream to its business, which has previously earned most of its income from a 1% fee when converting local currency into US dollars.The broker...
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