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Doug Alexander of Bloomberg Technology reports an online lenderâs stock price and value ârose the most in eight months after moving a step closer to giving customers the ability to hold bitcoin and other cryptocurrencies in digital wallets.â
Also read:Â Airbitz Major Wallet Overhaul Leads to New Brand, New Company: Edge
Bitcoin is the Future of Banking
âWeâre basically building a digital banking experience for the next generation of consumers,â CFO Greg Feller told Bloomberg by phone. Mr. Feller stated plainly, âwe are going to be bringing a crypto account inside the Mogo account.â
Mogo Finance Technology Inc. is a Canadian online lender. Mogo products include âaccess to personal loans, prepaid Visa cards and mortgages through mobile apps or computer. The next step is incorporating a digital wallet for cryptocurrencies into its platform,â Bloomberg notes.
As an established brand in Canada, Mogo has a built-in advantage with nearly half of a million customers. âWe have the ability now, because of the digital account that we built, to very quickly add new, innovative products and weâve got the scale to roll them out,â Mr. Feller said, adding that investors are starting to take notice.
Investors Reward Businesses Offering Bitcoin
âAs we continue to roll out new products [such as a bitcoin wallet], people are realizing that we truly are this platform company, and that obviously is part of what people are starting to appreciate in the market,â he explained.
Investors have noticed too. âMogo shares rose as much as 35 percent,â Bloomberg Technology detailed, âthe most since the companyâs initial public offering.â
The company also announced Wayne Chen, formerly of N Trust, as Senior Product Manager. âWe are pleased to welcome Wayne to the team as we continue to expand our capabilities in this area,â Mogo said in a press release. Mr. Chen was instrumental in N Trustâs bitcoin wallet and exchange products.
Mr. Feller concludes, âCanadians, especially tech savvy millennials, want a safe, trusted and easy way to own and ultimately use Bitcoin and other cryptocurrencies.â Mogo, he said, plans âto leverage the power of our technology platform to reduce transaction costs and make these products accessible to more Canadians.â
Is the future of banking as bitcoin-centric as many believe? Tell us in the comments below!
Images courtesy of: Pixabay, Mogo.Â
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The post Next Generation of Canadian Banking Customers Want Bitcoin appeared first on Bitcoin News.
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