Ethereum Co-Founder Joins Mogo
Mogo Finance Technology Inc. (TSX: MOGO)(OTCQX: MOGOF), one of Canada’s leading and publicly-traded fintech companies, currently trades at less than C$7 per share.
But it may not trade at these levels for long.
And analysts at Mackie Research don’t think so either.
In fact, Mackie just raised its price target for Mogo again, with a speculative buy target of $12.
But why?
Because Mogo announced that it will begin to add dedicated blockchain capabilities to accelerate its plans to integrate Bitcoin and other cryptocurrencies into Mogo’s digital account as well as future new products and features based on blockchain technology.
And to accelerate that development, Mogo just raised over $26 million.
But that’s not all.
Mogo just amplified their Blockchain developments by adding one of the leading global gurus on cryptocurrency to their team: one of Ethereum’s co-founders, Anthony Di Iorio.
Ethereum Co-Founder and Founder & CEO of Jaxx Blockchain Wallet joins Mogo Finance Technology as a Special Advisor
Mogo Finance Technology Inc. (TSX: MOGO)(OTCQX: MOGOF) (“Mogo” or the “Company”), one of Canada’s leading financial technology companies and a provider of innovative financial products to consumers, today announced that blockchain pioneer and expert, Anthony Di Iorio has joined Mogo as a Special Advisor to support the upcoming launch of Mogo’s recently announced cryptocurrency account and new strategic partnership opportunities in blockchain and cryptocurrencies.
“We are incredibly pleased to welcome Anthony to the Mogo team. He is an accomplished entrepreneur and business leader and widely regarded as a thought leader in blockchain and digital currencies,” said David Feller, Founder and CEO of Mogo. “Having one of the co-founders of Ethereum join Mogo is a major milestone for us as we look to leverage blockchain in our platform and business. Ethereum is not only the third largest cryptocurrency by market cap1 but also a blockchain based platform featuring smart contract functionality that is being used to build out thousands of applications, and its potential in financial services cannot be overstated.”
“If the Internet unlocked information, blockchain is unlocking value transfer. Mogo has built a powerful platform that is empowering the next generation of Canadians to gain control of their financial health with innovative digital finance products,” said Di lorio. “Blockchain and cryptocurrencies are a natural extension for Mogo as it’s a truly disruptive technology that can remove expensive manual processes that are traditionally used by financial institutions and ultimately help consumers. The company’s large fintech team, quickly growing member base and increasingly recognized brand are a massive advantage in an industry where trust and scale matter.”
Greg Feller, President and CFO of Mogo, added: “Blockchain technology will clearly have a profound impact on the next generation banking experience, and we are excited to add Anthony to the team as we advance our product roadmap and work to leverage the power of our technology platform to make cryptocurrencies accessible to more Canadians.”
About Mogo
Mogo (TSX: MOGO; OTCQX: MOGOF) — a Vancouver-based financial technology company — is focused on building the best digital financial services experience for the next generation of Canadians. Mogo’s platform currently delivers five innovative products designed to help consumers get in control of their financial health. Built mobile first, users can sign up for a free MogoAccount in only three minutes and get access to free credit score monitoring, identity fraud protection, the Mogo Platinum Prepaid Visa® Card, mortgages and personal loans. The platform was engineered to deliver multiple financial products at scale and enable the launch of additional new innovative products, including the Company’s recently announced MogoCrypto account which is expected to launch early in 2018. With more than 500,000 members and growing, Mogo continues to execute on its vision of becoming the financial brand for the next generation of Canadians. To learn more, please visit mogo.ca or download the mobile app (iOS or Android).
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the launch and features of Mogo’s upcoming cryptocurrency account, new strategic partnership opportunities in blockchain and cryptocurrencies, plans to introduce new products based on blockchain technology and otherwise, and member growth. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Mogo’s growth and its ability to expand into new products and markets are subject to a number of conditions, many of which are outside of Mogo’s control. For a description of the risks associated with Mogo’s business please refer to the “Risk Factors” section of Mogo’s annual information form dated March 7, 2017, which is available at www.sedar.com. Except as required by law, Mogo disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
Disclosure:
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