Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) (“Mogo” or the “Company”), a digital payments and financial technology company, today reported strong month-over-month growth in several key metrics in January related to its bitcoin account as an increasing number of Canadians look to gain access to this emerging digital asset.
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Highlights include:
1. A 141% increase in new bitcoin account additions in January compared with December; and
2. A 323% increase in the dollar value of bitcoin traded on the Mogo platform in January versus December
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Greg Feller, President and CFO of Mogo, added: “The continued growth in bitcoin transaction activity is very encouraging and although it is not yet a material contributor to our overall revenue, it represents our fastest-growing product. Assuming we continue to experience strong uptake with MogoCrypto, it could represent a meaningful component of the growth in our Subscription & Services revenue in 2021. Moreover, it creates the opportunity for engagement with all our products and long-term growth in member monetization.”
Mogo is one of the fintech pioneers in Canada and the only well-established Canadian company publicly traded on the TSX and NASDAQ, offering a simple and low-cost way to buy and sell bitcoin. MogoCrypto1, launched in 2018, offers an easy and convenient way to buy and sell bitcoin in Canada. It enables members to buy and sell bitcoin at real-time prices instantly through the Mogo app, 24/7 from their mobile device.
