Digital finance platform Money Lion Inc. is opening a new cryptocurrency division in which customers can purchase, sell, and trade digital assets such as bitcoin. Clients can do so through the company’s latest cryptocurrency application, and individuals must have a debit card attached to their accounts.
Money Lion Is Paving the Way for Crypto Trading
In the future, the platform says that it is planning to add several additional cryptocurrencies for purchase. Dee Choubey – the co-founder and CEO of Money Lion – explained in an interview:
At Money Lion, we are always looking for ways to advance our mission of providing hardworking Americans with greater financial access, and we’re thrilled to now extend that access to allow our users to confidently explore the growing digital currency market. We have been very intentional in how we’ve integrated our crypto offering into the platform by offering our members both the ability to transact directly in digital assets along with a ‘found money’ approach that enables them to gain exposure to the asset class slowly over time by allowing them to round-up their debit card purchases in Bitcoin.
In addition to the tradable assets the company plans to unveil, educational resources will also be available to clients looking to enter the digital currency space for the first time. These resources will help to not only understand cryptocurrencies, but the trading risks that come with them. In addition, there will also be data discussing the blockchain technology behind these assets, which will be available either through the Money Lion website or through its new app.
We view the new cryptocurrency offering as an important part of the Money Lion platform, which includes banking, lending and investing solutions along with tools to help our customers better manage their finances, all in one app. Offering this emerging asset class is a natural addition to our existing savings and investing products, and supports our goal of providing customers with access to a variety of asset classes, along with the tools and education they are looking for to feel confident in their financial decisions.
A Contest for Traders to Enjoy
All these new tools and more should be available to eligible Money Lion customers by October 5. In addition, the company is hosting a $1 million crypto prize pool as a way of celebrating its new launch. Early adopters of the platform are already eligible to receive bitcoin rewards, while those looking to join the Money Lion family may do so between September 16 and October 5 to take part in the giveaway. The company says that the more people register, the bigger the pool will become.
At the time of writing, all transactions occurring though Money Lion are overseen by Zero Hash LLC and Zero Hash Liquidity Services LLC. The company’s services are available to all customers in the U.S. other than in New York and Hawaii.