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IN BRIEF: Mode Global Hails Record Performance As Bitcoin Surges

Source: Alliance News
- fintech technology - Reports a new record-breaking month in December with trading volumes and new user numbers surging over 1,500% and 500...

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-- In first few days of January, Mode sees 40% increase in user growth numbers compared to December

London, 5(th) January - Mode Global Holdings, the LSE-listed fintech group, reports a new record-breaking month with trading volumes and new user numbers surging over 1,500% and 500% respectively since August, as Bitcoin extends its historical, record-breaking rally.

Mode's strong performance mirrors the historical, record-breaking rally in Bitcoin, which hit $20,000 on December 16, surpassing its previous 2017 peak. In under three weeks, Bitcoin has gained another 70% to reach $34,000, a new record.

Janis Legler, Chief Product Officer, Mode: "The last few months for Mode have been exceptional as we have reached record growth rates. We've been particularly popular amongst first-time Bitcoin investors which caused our Bitcoin app to make it to the top 2 in the UK's App Store finance category in December, surpassing most high-street banking and fintech apps. Even during the holidays, over 90% of our eligible customers were able to open and verify their accounts in less than five minutes, instantly top up their wallet via Open Banking and buy Bitcoin right away. Unlike traditional stock markets, Bitcoin trades 24/7 which provides a truly innovative and revolutionary experience for new customers - they love it."

Mode is the first publicly listed company in the UK to officially announce a significant purchase of Bitcoin as part of its treasury investment strategy. This follows announcements by Square Inc. and Microstrategy Inc. which disclosed significant purchases of an aggregate value of $475m worth of Bitcoin.

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The increased appetite for Bitcoin also comes after Mode became one of the first consumer-focused, digital banking apps to list on London's main market. It also follows the launch of Mode's innovative, flexible, interest-bearing product earlier this year. The Bitcoin Jar offers savers 5% interest APY, and so far 80% of the Bitcoin held via Mode's app has been switched from users' Bitcoin accounts into their jars, further demonstrating long-term commitment to Bitcoin as well as the attraction of yield in a near zero-interest rate economic environment.

About Mode

Mode is a UK fintech listed on the London Stock Exchange building financial products that will help accelerate the world's transition to a digital financial system combining the best of banking, payments, investment, loyalty, and digital assets.

To date, Mode has launched a next-generation app that allows users to access sterling pound, euro and bitcoin accounts, all in one place, and grow their digital assets through one of the highest-yielding and most flexible interest accounts for Bitcoin.

Mode also offers marketing, e-commerce and payments services for UK businesses looking to attract, engage and retain high-value customers globally. Mode is an official partner of WeChat Pay and AliPay.

The company was founded by Jonathan Rowland, Co-founder and Director of UK challenger bank Redwood Bank, the UK's first 100% 'born in the cloud' business bank using Microsoft Azure Platform.

Mode is the first publicly listed company in the UK to officially announce a significant purchase of Bitcoin as part of its treasury investment strategy. This follows announcements by Square Inc. and Microstrategy Inc. which disclosed significant purchases of an aggregate value of $475m worth of Bitcoin.

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