VANCOUVER, British Columbia–(BUSINESS WIRE)–Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO) (“Mogo” or the “Firm”), a monetary know-how firm centered on empowering customers with progressive digital monetary options by its cellular app, immediately reported a 135% month-over-month enhance within the greenback worth of bitcoin traded on the Mogo platform from October 2020 to November 2020. This follows on the Firm’s earlier announcement that Mogo bitcoin accounts elevated 237% yr over yr in Q3 2020.
“The robust efficiency of bitcoin and its rising credibility as an asset class have fuelled speedy progress in transaction quantity and new bitcoin accounts on the Mogo platform,” mentioned David Feller, Mogo’s Founder and CEO. “Though bitcoin has now been round for simply over 10 years, it’s nonetheless early days for this new asset class as most Canadians have but to personal it. The introduction of bitcoin buying and selling by main digital gamers within the U.S., mixed with the general rise of digital currencies, has considerably elevated the curiosity in bitcoin amongst Canadian customers.”
Greg Feller, President and CFO of Mogo, added: “As one of many pioneers in Canada and the one well-established publicly traded Canadian firm providing a easy and low-cost means to purchase and promote bitcoin, we’re in a novel place to satisfy this rising demand by our award profitable app that gives various progressive merchandise to assist Canadians handle their monetary lives.”
MogoCrypto1, launched in 2018, is the simplest means to purchase and promote bitcoin in Canada. It permits members to purchase and promote bitcoin at real-time costs immediately by the Mogo app, 24/7 from their cellular machine, bringing a brand new degree of comfort and accessibility to bitcoin possession for all Canadians. Customers can join free and in three minutes open an account, have the account funded in as little as 30 minutes with no funding price, and start shopping for and promoting bitcoin. As a part of the Firm’s present promotion, new Mogo members get $5 only for opening their account. MogoCrypto is obtainable by the free Mogo app, on iOS or Android or at mogo.ca. Mogo was just lately named “Greatest Cryptocurrency App” by savvynewcanadians.com and featured by Apple as “one of many apps we love”.
This information launch could include “forward-looking statements” throughout the that means of relevant securities laws, together with statements relating to the expansion of Mogo’s income because of elevated bitcoin transaction quantity. Ahead-looking statements are essentially based mostly upon various estimates and assumptions that, whereas thought-about affordable by administration on the time of preparation, are inherently topic to important enterprise, financial and aggressive uncertainties and contingencies, and should show to be incorrect. Ahead-looking statements contain identified and unknown dangers, uncertainties and different elements that will trigger precise monetary outcomes, efficiency or achievements to be materially completely different from the estimated future outcomes, efficiency or achievements expressed or implied by these forward-looking statements and the forward-looking statements will not be ensures of future efficiency. Mogo’s progress, its capacity to develop into new merchandise and markets and its expectations for its future monetary efficiency are topic to various circumstances, a lot of that are exterior of Mogo’s management. For an outline of the dangers related to Mogo’s enterprise please seek advice from the “Threat Elements” part of Mogo’s present annual info type, which is obtainable at www.sedar.com and www.sec.gov. Besides as required by legislation, Mogo disclaims any obligation to replace or revise any forward-looking statements, whether or not because of new info, occasions or in any other case.
Mogo — a monetary know-how firm — presents a finance app that empowers customers with easy options to assist them get answerable for their monetary well being and be extra aware of the influence they’ve on society and the planet. Customers can join a free account in solely three minutes, start to be taught the four habits of monetary well being and get handy entry to merchandise that may assist them obtain their monetary objectives and have a constructive influence on the planet together with a digital spending account with Mogo Visa* Platinum Pay as you go Card that includes automated carbon offsetting, free month-to-month credit score rating monitoring, ID fraud safety and private loans. Members may simply purchase and promote bitcoin 24/7 by the Mogo app, in addition to take part in Mogo’s new bitcoin rewards program. The Mogo platform has been purpose-built to ship a best-in-class digital expertise, with best-in-class merchandise, all by one account. With a couple of million members and a advertising partnership with Canada’s largest information media firm, Mogo continues to execute on its imaginative and prescient to gamify monetary well being and develop into the go-to monetary app for the subsequent technology of Canadians. To be taught extra, please go to mogo.ca or obtain the cellular app (iOS or Android).