MoneyLion launches crypto purchase capabilities
Fintech company MoneyLion announced earlier today that its users can now buy a few cryptocurrencies via its mobile app. The company made this known in an effort to expand into the crypto space and attract more customers.According to the MoneyLion’s press release, users can buy and sell a few cryptocurrencies, including Bitcoin, Ether and Litecoin. “Eligible MoneyLion customers will initially be able to buy and sell Bitcoin and Ethereum, as well as round-up their debit card purchases in Bitcoin. In the coming months, the Company plans to add more cryptocurrencies and related features to the offering,” MoneyLion added.
Dee Choubey, MoneyLion co-founder and CEO, said the service is available to US customers at the moment. However, they intend to expand it to other parts of the world soon. “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,” he added.
Fintech platforms are entering the crypto space
The past year has seen a few fintech platforms launch cryptocurrency trading services. PayPal and its subsidiary, Venmo, launched crypto purchase services to its clients a few months ago. However, at the time, the service was limited to users in the United States.Last month, PayPal extended its cryptocurrency services to its users in the United Kingdom. It intends to expand the service to other parts of the world in the coming months.
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