Mode Global Holdings PLC - bitcoin banking app company based in London - Signs memorandum of understanding with THG PLC, under which THG brands will offer Mode as an additional payment option for customers.
Mode will allow THG customers to make instant payments using either Bitcoin and open banking. Over the coming months, both companies will look to integrate Mode's payments solution into e-commerce platform THG Ingenuity, and then spread to over 30 THG brands over the next 12 months, starting from the third quarter of 2021.
"Partnering with THG marks a major milestone for Mode. THG has become a globally renowned tech ecosystem specialising in taking brands direct to consumers worldwide. Today's announcement signifies the beginning of long-lasting partnership that will see Mode's growth and market penetration trajectory accelerate, and will allow us to bring our disruptive payments and loyalty solution into the hands of millions of UK customers," said Chief Executive Officer Ryan Moore.
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By Dayo Laniyan; dayolaniyan@alliancenews.com
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Thg (THG)
R8 Capital Inv (MODE)