BLOCKCHAIN PLAN BOOSTS MOGO
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.