BLOCKCHAIN PLAN BOOSTS MOGO

Calgary Herald - - FP CALGARY -

Shares of Mogo Fi­nance Tech­nol­ogy Inc. shot up by as much as 35 per cent Mon­day af­ter the fin­tech firm said it would roll out ded­i­cated blockchain ca­pa­bil­i­ties to sup­port cryp­tocur­ren­cies in­clud­ing Bit­coin. The tar­get launch is the first quar­ter of 2018. The Vancouver-based firm said the roll­out of blockchain, a dis­trib­uted ledger tech­nol­ogy touted for its abil­ity to in­crease se­cu­rity and re­duce costs, would ac­cel­er­ate plans to in­te­grate cryp­tocur­ren­cies into Mogo’s suite of prod­ucts and ser­vices such as multi-prod­uct mo­bile ac­counts. Post­media Net­work Inc. has a mar­ket­ing and rev­enue shar­ing agree­ment with Mogo. “De­vel­op­ing new prod­ucts and fea­tures based on blockchain tech­nol­ogy and cryp­tocur­ren­cies is a nat­u­ral ex­ten­sion for Mogo as we con­tinue to build a dig­i­tal bank­ing ex­pe­ri­ence for the next gen­er­a­tion of con­sumers,” said Mogo CEO David Feller, in a state­ment.

CNW GROUP/MOGO FI­NANCE TECH­NOL­OGY INC

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