United Kingdom-based fintech Mode plans to extend its Bitcoin (BTC) Cashback offering to 40+ merchants in Q2 2022 as part of a standalone product. The new move gives consumers the chance to build a stake in Bitcoin without having to take on the risk of investing.
The users can now browse Cashback offers at all the participating retailers on the Mode app. Then they will be required to move to the selected retailer’s website to complete the purchase and provide their shipping address. Notably, the bitcoin rewards will be credited into the customer’s Mode account.
During the launch, retailers will feature household names like Homebase, Ocado, and boots. The CEO of Mode, Ryan Moore, commented:
“This marks a major step in making the asset class more accessible to consumers of all demographics, ultimately bringing bitcoin into the hands of millions of customers across the UK.”
As the crypto world matures, more institutional investors are coming in. experts believe that the many regulations coming up to govern the crypto space will enable it to mature, in turn, boosting mass adoption.
Nonfungible tokens (NFTs) and decentralized finance (DeFi) are helping push adoption of the nascent sector which most central banks and governments look to regulate to benefit from the technological advancement.