London-based fintech firm Mode has opened a waiting list for its soon-to-be-launched crypto banking mobile app, designed to make cryptocurrencies, and all their untapped financial benefits, accessible to everyone at the touch of a button.
With its new product, Mode aims to bring down barriers and open up the world of cryptocurrencies to everyone, not just the tech-savvy and the traders. The Mode app will be an easy pathway for everyone else to get immediate access to this revolutionary new asset class.
Mode will release an early version of the app for iPhone-users in October. Through it, users will be able to easily buy Bitcoin and safely store it within the app. Products for investing, saving and borrowing are already part of the company’s product roadmap. Further details on these will be announced in the following months.
The new offering has been designed to address the issues faced by the cryptocurrency consumer market such as transaction restrictions, low speed/high cost, lack of security and poor user experience.
Mode is part of R8 Group, a UK fintech group which raised $5m in an oversubscribed funding round in April 2019, and is backed by an experienced management team with extensive experience in the financial services and technology sectors, including serial entrepreneur Jonathan Rowland and Twitter co-founder Biz Stone.
Mode launched their first product earlier this year, giving businesses a flexible lending solution whereby they could leverage the value of their digital-asset holdings to finance business operations or a new business idea.
Ariane Murphy, Head of Communications and Marketing, Mode, said: “We’re hugely excited about the future potential of Mode and this launch is our latest step towards building a secure, integrated full-feature platform.”
“From launching our lending product for businesses earlier in the year, we identified a clear consumer appetite for something new as there isn’t currently anyone offering the all-in-one experience retail customers are searching for on neo-banking apps. We hope that through our Mode app we can meet the expectations of both the crypto community and the new people coming into the space, as well as continuously deliver new features and experiences. There’s lots to be excited about.”