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

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

Financial know-how firm MoneyLion added cryptocurrency providers to its built-in monetary service utility earlier than its public itemizing, permitting its shoppers to freely purchase and promote Bitcoin (BTC) and Ethereum (ETH).

MoneyLion revealed that this function could be formally launched on October 5.

To promote and commemorate this cryptocurrency service, MoneyLion has arrange a cryptocurrency prize pool with a complete worth of $1 million. Any new and common prospects who be part of this service between September 16 and October 5 can take part on this prize pool.

“At the tip of the promotional interval, your complete pool funds will probably be equally distributed to all registrants,” said by MoneyLion in accordance with the press release by Globe Newswire.

MoneyLion CEO and co-founder Dee Choubey stated on Monday that becoming a member of the “rising asset class” akin to cryptocurrency is a complement to monetary services, and believes that it’s a affordable extension of the present MoneyLion utility, stating that:

“We view the brand new cryptocurrency providing as an essential a part of the MoneyLion platform, which incorporates banking, lending and investing options alongside with instruments to assist our prospects higher handle their funds, multi functional app.”

Reportedly, MoneyLion will add further cryptocurrencies for buying and selling on its platform shortly.

MoneyLion said that the platform won’t cost transaction fees however will earn the alternate charges by means of changing cryptocurrencies and U.S. {dollars} whereas permitting prospects to make use of Bitcoin to buy their debit playing cards.

Founded in 2013, MoneyLion is a cellular banking and monetary membership platform. It will merge with Fusion Acquisition Corp by means of a Special Purpose Acquisition Corporation(SPAC) on September 22 and formally land on the New York Stock Exchange underneath the inventory code of “ML”.

MoneyLion is estimated to worth at $2.9 billion on this itemizing, and it’ll compete and develop collectively with well-known monetary know-how corporations SoFi, Robinhood and Square’s Cash App.

Image supply: Shutterstock

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