MoneyLion Empower Member Use Cryptocurrencies Via Investment in Zero Hash
MoneyLion, an award-winning, data-driven, digital financial platform, today announced that it will introduce new capabilities enabling members to buy, sell and earn digital currencies. This includes a strategic investment the company has made in Zero Hash, the leading, regulated digital asset settlement provider. The strategic investment in Zero Hash provides MoneyLion 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.
Americans have a growing appetite for digital assets, as evidenced by a February 2021 survey of over 30,000 U.S. adults by research group PIPLSAY that reported more than one-quarter of Americans (27%) are planning to invest in cryptocurrency this year. Furthermore, interest remains even higher among MoneyLion’s members, as a recent survey of more than 2,000 MoneyLion members found that nearly 60% are already investing in cryptocurrencies today. Of those not yet in the market, 77% say they would be interested in owning cryptocurrencies in the next year.
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 a crypto-based rewards program offering members the option to earn digital assets in the same way they earn “cash back” today, which can then be traded or invested through the MoneyLion platform; and Spending roundups allowing members to round up debit card purchases to the nearest dollar via investments in digital currencies.
“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,” said Dee Choubey, MoneyLion co-founder and CEO. “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.”
Edward Woodford, Zero Hash co-founder, and CEO commented: “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.”
MoneyLion’s new cryptocurrency offerings are expected to launch in the fall of 2021.