cryptocurrency

cryptocurrency

Since its founding in 2018, UNest has focused on helping parents save money for their kids. Offering customers flexible accounts to go toward things like college tuition, wedding expenses or a down payment on a house, the North Hollywood-based fintech startup might seem like more of a low-risk institution.

Yet in the next few weeks, UNest is jumping headfirst into the world of cryptocurrencies.

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West Hollywood-based banking app Dave made its much-hyped debut as a publicly traded company on the Nasdaq stock exchange on Thursday.

Shares in Dave (ticker: DAVE) opened trading at $8.27, giving the company a market capitalization of roughly $3 billion. After swooning close to $7 per share, Dave’s stock rebounded above the $9 mark before closing the day at $8.53.

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Los Angeles-based banking app Dave is poised to debut as a publicly traded company via a SPAC deal this week, and has plans to use some of the proceeds to wade into the crypto waters.

Dave, which is valued at $4 billion and backed by famed investor Mark Cuban, anticipates closing its merger with blank-check firm VPC Impact Acquisition Holdings III this Wednesday. If all goes according to plan, it will begin trading on the Nasdaq stock exchange on Thursday.

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