MoneyLion to empower members to buy, sell and earn digital currencies

By Pavithra R

MoneyLion, the provider of leading digital finance platform, has announced that the firm will introduce new capabilities enabling members to buy, sell and earn digital currencies. 

MoneyLion’s strategic investment in Zero Hash, the leading, regulated digital asset settlement provider is expected to complement the move. The investment will provide MoneyLion with the ability to power its cryptocurrency offering as part of its all-in-one digital financial platform and gives the company an ownership stake in the leading cryptocurrency liquidity and settlement infrastructure for digital and traditional banking and brokerage providers.

“We’re seeing exploding interest in the utility and investment potential of digital currencies, but one of the top reasons our members say they haven’t yet acquired cryptocurrencies is because they lack knowledge of the asset class. We want to empower people with the tools and education they are looking for to feel confident when they decide to enter this market. The MoneyLion crypto offering will provide members an intuitive way to own digital currencies within a seamless and secure environment and, through our strategic investment in Zero Hash, we’re confident that we’re advancing our mission to increase access to previously exclusive financial services,” said Dee Choubey, MoneyLion co-founder and CEO.

MoneyLion’s new suite of cryptocurrency offerings will be integrated across the company’s digital financial platform, empowering members to:

• Invest by buying and selling digital assets, including Bitcoin and Ethereum.
• Earn cryptocurrencies through found money strategies, including:
  1. A crypto-based rewards program offering members the option to earn digital assets in a way similar to earning cash back today, which can then be traded or invested through the MoneyLion platform.
  2. Spending roundups allowing members to round up debit card purchases to the nearest dollar via investments in digital currencies.

“We’re excited to be partnering with MoneyLion at a critical time in the cryptocurrency market, as month-over-month user growth suggests impending mainstream consumer adoption. We look forward to playing a critical part in MoneyLion’s ability to provide cutting-edge access to the next generation financial system,” said Edward Woodford, Zero Hash co-founder and CEO.

Founded in 2013, MoneyLion is a leading mobile finance platform that empowers consumers to take control of their financial lives through better products for borrowing, saving, and investing. It uses superior analytics and machine learning-based risk technology to gain a 360-degree view of its users’ personal finances, enabling better underwriting and the development of tailored financial product offers. Its new cryptocurrency offerings are expected to launch in the fall of 2021.