On behalf of the Interchange team, I'm excited to announce the newest member of the Interchange family: Interchange Advisers LLC — an investment adviser registered with the U.S. Securities and Exchange Commission (SEC), effective August 14, 2026.

The Interchange platform is now powered by the following regulated entities:

• Interchange Clearing executes orders, clears trades, and custodies customer assets.
• Interchange Trust Company serves as directed trustee for tax-advantaged accounts carried and cleared by Interchange Clearing.
• Interchange Advisers now serves as the registered investment adviser to help power Treasury and other investment advisory products, working with non-registered intermediary correspondent clients.

The Everything-App Era

Financial products have been converging for years. Brands that already own part of a customer's financial relationship increasingly want to serve more of it. We see this firsthand with our clients: a business that starts by offering banking, for example, naturally looks to add adjacent products like brokerage, treasury, and managed investing.

The idea sounds simple: let customers invest the money they already keep with you. Historically, delivering it has meant stitching together multiple legacy vendors while building the regulatory expertise to operate and supervise it all. What should take months can instead take years, as teams build capabilities far removed from the product they set out to create.

What SEC-Registration Enables

Many of our correspondent clients are registered investment advisers and serve as the adviser for the products they build on Interchange. Interchange Advisers expands the platform to businesses that are not registered investment advisers, enabling them to offer managed investment products with Interchange Advisers providing the underlying investment advisory services.

We took a similar approach with Treasury, enabling non-registered businesses to offer automated money market fund sweeps through our direct account capability. Interchange Advisers now extends that model to managed investing, allowing eligible intermediaries to offer both Treasury and advisory products through a single Interchange platform.

One Platform

Interchange Advisers runs on the same ledger and infrastructure we've already built across the Interchange platform. Accounts can hold precise fractional positions, allowing model portfolios to work consistently whether a client invests $100 or $1 million, while positions and balances update in real time as trades execute and settle. Uninvested cash can earn yield through the Treasury money market sweep, and for advisory products offered through IRAs, Interchange Trust Company is positioned to serve as trustee.

The Whole Firm

Past announcements have highlighted how quickly our engineering team builds and how rapidly we continue to expand the Interchange platform. But regulatory milestones aren't achieved through code alone. Like our trust charter, this milestone reflects the deep correspondent clearing expertise across our team. Great technology is only part of building financial infrastructure — it has to be matched by people who understand how the industry actually works.

What's Next

Interchange Advisers is now part of a broader platform for building investment products. If you’re adding brokerage, money market fund sweeps, managed portfolios, or tax-advantaged accounts to a product your customers already trust, we’d love to talk. Interchange can now provide not just the infrastructure but the regulated capabilities to power it.

Request access and start building with Interchange today.

Michael H. Giles
Founder & CEO