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Fintech MoneyLion Adds Crypto Trading with $1M Prize Before IPO

by Miki 09/14/2021
by Miki 09/14/2021 0 comment

Financial technology company MoneyLion added cryptocurrency services to its integrated financial service application before its public listing, allowing its clients to freely buy and sell Bitcoin (BTC) and Ethereum (ETH).

MoneyLion revealed that this feature would be officially launched on October 5.

To promote and commemorate this cryptocurrency service, MoneyLion has set up a cryptocurrency prize pool with a total value of $1 million. Any new and regular customers who join this service between September 16 and October 5 can participate in this prize pool.

“At the end of the promotional period, the entire pool funds will be equally distributed to all registrants,” said by MoneyLion according to the press release by Globe Newswire.

MoneyLion CEO and co-founder Dee Choubey said on Monday that joining the “emerging asset class” such as cryptocurrency is a supplement to financial products and services, and believes that it is a reasonable extension of the current MoneyLion application, stating that:

“We view the new cryptocurrency offering as an important part of the MoneyLion platform, which includes banking, lending and investing solutions along with tools to help our customers better manage their finances, all in one app.”

Reportedly, MoneyLion will add additional cryptocurrencies for trading on its platform shortly.

MoneyLion stated that the platform will not charge transaction fees but will earn the exchange rates through converting cryptocurrencies and U.S. dollars while allowing customers to use Bitcoin to purchase their debit cards.

Founded in 2013, MoneyLion is a mobile banking and financial membership platform. It will merge with Fusion Acquisition Corp through a Special Purpose Acquisition Corporation(SPAC) on September 22 and officially land on the New York Stock Exchange under the stock code of “ML”.

MoneyLion is estimated to value at $2.9 billion in this listing, and it will compete and grow together with well-known financial technology companies SoFi, Robinhood and Square’s Cash App.

Image source: Shutterstock

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The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

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      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

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