Mogo Finance Technology Inc. today announced that it plans to bring a new level of convenience and transparency to bitcoin ownership for all Canadians. With the planned launch of MogoCrypto in the first quarter of 2018, MogoMembers will be able to easily buy and sell bitcoin through their MogoAccount.
“For the average Canadian, buying bitcoin today can be complicated, intimidating and costly, but it shouldn’t be that difficult,” said David Feller, Founder and CEO of Mogo. “Our goal in launching MogoCrypto is to provide an opportunity for all Canadians, many of whom may be new to bitcoin and cryptocurrencies, to participate in this market in a way that is easy and transparent and through a brand they trust. Mogo’s app was built to provide consumers with an easy way to manage their financial health, and as bitcoin becomes more mainstream, having these capabilities in our existing multi-product mobile account will provide a compelling value proposition that is unique in Canada. With 500,000 members and growing, national marketing reach, and our mobile-first technology platform, we believe Mogo is uniquely positioned to be the leader in bringing cryptocurrencies to the masses.”
Within the MogoAccount, members will be quoted a single price for bitcoin and will be offered multiple payment options to make real-time purchases. Members will be able to access the value of their holdings in real time and receive push notifications whenever the price of bitcoin changes by 5%. Selling will be simple, as members will be able to sell at any time and withdraw the funds or have them transferred to their Mogo Platinum Prepaid Visa® Card for spending. MogoMembers also get access to the Company’s other digital financial products such as free monthly credit score monitoring.
Greg Feller, President and CFO of Mogo, added: “Mogo continues to bring innovation to digital banking in Canada, and we have a robust roadmap for 2018 which will see us continue to enhance current products and introduce new ones. Advances in blockchain technology will clearly have a profound impact on the next-generation banking experience. With one of the country’s largest dedicated and experienced fintech teams of over 250 people, including a technology and product development team of almost 100 people, we aim to be a leader in the convergence of blockchain technology and digital banking.”
To celebrate the upcoming launch of MogoCrypto, new and existing MogoMembers are eligible to win a bitcoin for free. The first draw deadline was December 31st and three additional coins will be given away at the end of each month over the next three months. To become a MogoMember, users can simply open an account for free in minutes through the Mogo app or through their desktop. Additional contest details are available at www.mogo.ca/mogo-crypto