Fintech Mode Unveils Application To Buy Bitcoin

Supported by one of the co-founders of Twitter, Fashion just announced the launch of its application Bitcoin Banking sure iOS. The young Londoner aims to democratize investment in cryptocurrency.

Fashion says that an account on its application can be opened and validated in less than 3 minutes. The Know Your Customer (KYC) verification process would be completed in under 120 seconds using identity verification technology using Artificial Intelligence (AI).

Fashion aims to break down barriers and open up the market for Bitcoin to everyone, not just sophisticated or professional investors. As a result, users can start with £ 50, and unlike many apps, Mode charges very competitive fees, ”claims fintech in a press release.

Available everywhere except the United States, the app allows you to buy Bitcoin by card and bank transfer. Customers' digital coins are kept in the portfolios of the famous American depositary BitGo.

Fashion is part of R8 Group, a British group supported by one of the co-founders of Twitter, Christopher Isaac a.k.a Biz stone, which raised $ 5 million in 2019.

Although there are currently several ways to enter the Bitcoin, few of them attract ordinary people who want to buy and own Bitcoin. Fashion removes unnecessarily complex processes, creating a user interface that rivals that of major challenger banks, ”commented Isaac.

By next year, Fashion plans to launch a savings product allowing customers to generate interest by letting their tokens sleep on the app.

Until the beginning of this year, we have tested our application with a thousand first users and the feedback has been very positive. This, coupled with strong market growth, means that we are convinced that the time has come to launch officially, ”added Ariane Murphy, marketing director at Mode.

Another Twitter co-founder, Jack dorsey, also launched an application (Square) to invest in the first cryptocurrency on the market.