RCS - Mode Global Holdings - Mode secures FCA approval to add more tokens

R8 Capital InvestmentsAnnouncement

26/08/2022 07:00

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RNS Number : 2908X  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
(mailto: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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