US-based neobank MoneyLion announced the launch of its new cryptocurrency capabilities, enabling customers to buy and sell digital currencies within its app.
MoneyLion said that eligible 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 neobank plans to add more cryptocurrencies and related features to the offering.
The rollout is underway and will continue over the coming weeks, with the new capabilities available to all eligible MoneyLion customers on October 5.
MoneyLion had recently announced that its merger with a special purpose acquisition company (SPAC) Fusion Acquisition Corp. to become a publicly listed company is coming to a close soon.
“We view the new cryptocurrency offering as an important part of the MoneyLion platform, which includes banking, lending & 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.”
said Dee Choubey, Co-Founder and CEO of MoneyLion.
This article first appeared on Fintech News Switzerland.
Featured image credit: Edited from Unsplash