Mode Global Holdings PLC Mode secures FCA approval to add more tokens
August 26 2022 - 2:00AM
RNS Non-Regulatory
TIDMMODE
Mode Global Holdings PLC
26 August 2022
Mode Global Holdings PLC
Mode secures FCA approval to add more tokens to its platform
Mode Global Holdings PLC (LSE: MODE) ("Mode"), the LSE-listed
fintech group, is pleased to announce that it has received
confirmation from the FCA that Mode can add multi-tokens to the
Mode App.
Launching later this year, Mode will be gradually adding 10 new
tokens to its platform for users to buy and sell. These are:
Ethereum, Cardano, Solana, Polygon, British Pound Tether, Polkadot,
Dogecoin, Cosmos, USD Coin and Tether. These tokens will be made
available through a phased approach.
Rita Liu, Mode CEO comments: "This expansion of tokens available
on the platform will be a significant milestone for Mode, and the
FCA's regulatory approval is, we believe, a testament to our secure
and well-governed infrastructure, which makes this token expansion
possible.
We've created a safe and compliant ecosystem that allows people
to interact with Bitcoin, actively or passively - however they
choose. The fact that we can now extend this to more tokens is
exciting - both for our growing user base and the cryptosphere more
broadly.
A key to wider adoption and integration is exposure. Therefore,
our ability to offer more tokens to users on the platform will help
users diversify their investment portfolios and, at the same time,
enhances our product offering."
The addition of new tokens to the platform is just the latest
innovation Mode has introduced to its users this year, following an
expanded affiliate cashback programme that allows users to earn
Bitcoin cashback from hundreds of retailers, as announced in May
this year. Mode has also seen successful Bitcoin payroll
partnerships launched with Heroes and Lano in February and May,
respectively this year, indicating an increasing demand for crypto
exposure despite market volatility.
On the business-to-business side, Mode has been working with
retailers to help cut transaction costs, and by accepting payment
through Mode, retailers can save on these transaction costs,
receive funds instantly, speed up cash flow, and make transactions
cheaper. Mode's reward solution also helps businesses reward
customers in Bitcoin. With more tokens being brought onto the
platform soon, Mode will be in a position to improve and expand all
these user cases so that both customers and businesses can have
wider choice.
For more information please do get in touch:
mode@mrm-london.com
-ENDS-
Press contacts:
Fiona McAra, MRM
+44 (0)7471 350286
mode@mrm-london.com
Julie Sand, Mode Global Holdings PLC
+44 (20) 3773 0588
julie.sand@modeapp.com
Notes to Editors
About Mode:
Mode is an LSE-listed fintech company on a mission to build the
world's most disruptive ecosystem where exchanging value and
growing wealth is seamless for all. Mode is leveraging the power of
Bitcoin and Open Banking to deliver on this mission and offer
customers in the UK a one-stop app to shop, earn and grow their
Bitcoin, all in one place. For businesses, Mode provides a cheaper,
safer and smarter alternative to card payments that rewards
shoppers with Bitcoin Cashback.
To learn more, visit our customer/business site at
www.modeapp.com or our investor site at www.modeplc.com.
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END
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