People have a rising urge for food for digital belongings, as evidenced by a February 2021 survey of over 30,000 U.S. adults by analysis group PIPLSAY that reported a couple of quarter of People (27%) are planning to spend money on cryptocurrency this yr.1 Moreover, curiosity stays even greater amongst MoneyLion’s members, as a current survey of greater than 2,000 MoneyLion members discovered that almost 60% are already investing in cryptocurrencies immediately.2 Of these not but available in the market, 77% say they might be interested by proudly owning cryptocurrencies within the subsequent yr.
MoneyLion’s new suite of cryptocurrency choices might be built-in throughout the corporate’s digital monetary platform, empowering members to:
- Make investments by shopping for and promoting digital belongings, together with Bitcoin and Ethereum.
- Earn cryptocurrencies by way of discovered cash methods, together with:
- A crypto-based rewards program providing members the choice to earn digital belongings in the identical manner they earn “money again” immediately, which might then be traded or invested by way of the MoneyLion platform.
- Spending roundups permitting members to spherical up debit card purchases to the closest greenback by way of investments in digital currencies.
“We’re seeing exploding curiosity within the utility and funding potential of digital currencies, however one of many high causes our members say they have not but acquired cryptocurrencies is as a result of they lack information of the asset class,” mentioned Dee Choubey, MoneyLion co-founder and CEO. “We need to empower individuals with the instruments and schooling they’re searching for to really feel assured after they determine to enter this market. The MoneyLion crypto providing will present members an intuitive approach to personal digital currencies inside a seamless and safe atmosphere and, by way of our strategic funding in Zero Hash, we’re assured that we’re advancing our mission to extend entry to beforehand unique monetary providers.”
Edward Woodford, Zero Hash co-founder and CEO, commented: “We’re excited to be partnering with MoneyLion at a crucial time within the cryptocurrency market, as month-over-month person development suggests impending mainstream client adoption. We stay up for taking part in a crucial half in MoneyLion’s capability to supply cutting-edge entry to the following era monetary system.”
MoneyLion’s new cryptocurrency choices are anticipated to launch within the fall of 2021.
As beforehand introduced, on February 12, 2021, MoneyLion entered right into a definitive agreement with Fusion Acquisition Corp. (NYSE: FUSE), that may end in MoneyLion changing into a publicly listed firm within the first half of 2021, topic to the satisfaction of customary closing circumstances.
Be a part of the waitlist
New and present MoneyLion members within the firm’s new cryptocurrency choices are invited to hitch the waitlist by visiting www.moneylion.com/crypto.
MoneyLion is a cellular banking and monetary membership platform that empowers individuals to take management of their funds. Since its launch in 2013, MoneyLion has engaged with 7.5 million hard-working People and has earned its members’ belief by constructing a full-service digital platform to ship cellular banking, lending, and funding options. From a single app, members can get a 360-degree snapshot of their monetary lives and have entry to personalised suggestions and instruments to construct and enhance their credit score and obtain on a regular basis financial savings. MoneyLion is headquartered in New York Metropolis, with workplaces in San Francisco, Salt Lake Metropolis, Sioux Falls, and Kuala Lumpur, Malaysia. MoneyLion has achieved varied awards of recognition together with the 2020 Forbes FinTech 50, Aite group finest digital Wealth Administration Multiproduct providing, Finovate Award for Finest Digital Financial institution 2019, Benzinga FinTech Awards winner for Innovation in Private Finance 2019 and the Webby Awards 2019 Folks’s Voice Award. For extra data, please go to www.moneylion.com or obtain the app.
About Zero Hash
Zero Hash’s mission is to empower innovators by delivering entry to the monetary system 2.0. Zero Hash allows builders and companies to concentrate on constructing experiences and merchandise. We energy your favourite brokerage app or neo financial institution to supply BTC, present the rails to the two.0 fee processors, give platforms the flexibility to facilitate instantaneous cross border funds and remove complexity for shifting belongings for the world’s largest liquidity suppliers.
Zero Hash supplies the whole turnkey resolution to permit platforms to launch digital belongings and personal the shopper expertise, with none regulatory overhead and a light-weight technical elevate (a matter of API endpoints). Zero Hash’s purchasers embrace Neo-banks, dealer sellers (and fee teams. Zero Hash is a FinCen-registered Cash Service Enterprise in addition to a regulated Cash Transmitter that may function in 51 US jurisdictions. Zero Hash can be regulated as a Canadian MSB.
Zero Hash was voted Innovator of the 12 months by the 2019 Revenue & Loss Readers Alternative Awards.
Extra Data In regards to the Proposed Enterprise Mixture and The place to Discover It
The proposed enterprise mixture might be submitted to shareholders of Fusion Acquisition Corp. (“Fusion”) for his or her consideration. Fusion intends to file a registration assertion on Kind S-4 (the “Registration Assertion”) with the SEC which is able to embrace preliminary and definitive proxy statements to be distributed to Fusion’s shareholders in reference to Fusion’s solicitation for proxies for the vote by Fusion’s shareholders in reference to the proposed enterprise mixture and different issues as described within the Registration Assertion, in addition to the prospectus regarding the provide of the securities to be issued to MoneyLion’s shareholders in reference to the completion of the proposed enterprise mixture. After the Registration Assertion has been filed and declared efficient, Fusion will mail a definitive proxy assertion and different related paperwork to its shareholders as of the document date established for voting on the proposed enterprise mixture. Fusion’s shareholders and different individuals are suggested to learn, as soon as obtainable, the preliminary proxy assertion / prospectus and any amendments thereto and, as soon as obtainable, the definitive proxy assertion / prospectus, in reference to Fusion’s solicitation of proxies for its particular assembly of shareholders to be held to approve, amongst different issues, the proposed enterprise mixture, as a result of these paperwork will include essential details about Fusion, MoneyLion and the proposed enterprise mixture. Shareholders may get hold of a duplicate of the preliminary or definitive proxy assertion, as soon as obtainable, in addition to different paperwork filed with the SEC relating to the proposed enterprise mixture and different paperwork filed with the SEC by Fusion, with out cost, on the SEC’s web site positioned at www.sec.gov or by directing a request to Cody Slach and Matt Glover, (949) 574-3860, [email protected].
Members within the Solicitation
Fusion, MoneyLion and sure of their respective administrators, government officers and different members of administration and workers might, below SEC guidelines, be deemed to be members within the solicitations of proxies from Fusion’s shareholders in reference to the proposed enterprise mixture. Data relating to the individuals who might, below SEC guidelines, be deemed members within the solicitation of Fusion’s shareholders in reference to the proposed enterprise mixture might be set forth in Fusion’s proxy assertion / prospectus when it’s filed with the SEC. You could find extra details about Fusion’s administrators and government officers in Fusion’s Annual Report on Kind 10-Ok for the yr ended December 31, 2020 (the “Annual Report”), filed with the SEC on March 25, 2021. Extra data relating to the members within the proxy solicitation and an outline of their direct and oblique pursuits might be included within the proxy assertion / prospectus when it turns into obtainable. Shareholders, potential traders and different individuals ought to learn the proxy assertion / prospectus rigorously when it turns into obtainable earlier than making any voting or funding selections. You might get hold of free copies of those paperwork from the sources indicated above.
The knowledge on this communication consists of “forward-looking statements” inside the which means of the “secure harbor” provisions of america Non-public Securities Litigation Reform Act of 1995. Ahead-looking statements could also be recognized by means of phrases resembling “estimate,” “plan,” “mission,” “forecast,” “intend,” “will,” “anticipate,” “anticipate,” “consider,” “search,” “goal” or different comparable expressions that predict or point out future occasions or traits or that aren’t statements of historic issues. These forward-looking statements embrace, however should not restricted to, statements relating to estimates and forecasts of economic and efficiency metrics and expectations and timing associated to potential advantages, phrases and timing of the transaction. These statements are based mostly on varied assumptions, whether or not or not recognized on this press launch, and on the present expectations of MoneyLion’s and Fusion’s administration and should not predictions of precise efficiency. These forward-looking statements are offered for illustrative functions solely and should not meant to function, and should not be relied on by any investor as, a assure, an assurance, a prediction or a definitive assertion of truth or chance. Precise occasions and circumstances are troublesome or not possible to foretell and can differ from assumptions. Many precise occasions and circumstances are past the management of MoneyLion and Fusion. These forward-looking statements are topic to a variety of dangers and uncertainties, together with adjustments in home and international enterprise, market, monetary, political and authorized circumstances; the shortcoming of the events to efficiently or well timed consummate the proposed enterprise mixture, together with the danger that any required regulatory approvals should not obtained, are delayed or are topic to unanticipated circumstances that would adversely have an effect on the mixed firm or the anticipated advantages of the proposed enterprise mixture or that the approval of the shareholders of Fusion or MoneyLion is just not obtained; failure to understand the anticipated advantages of the proposed enterprise mixture; dangers regarding the uncertainty of the projected monetary data with respect to MoneyLion; future international, regional or native financial and market circumstances; the event, results and enforcement of legal guidelines and laws; MoneyLion’s capability to handle future development; MoneyLion’s capability to develop new merchandise and options, deliver them to market in a well timed method, and make enhancements to its platform; the results of competitors on MoneyLion’s future enterprise; the quantity of redemption requests made by Fusion’s public shareholders; the flexibility of Fusion or the mixed firm to subject fairness or equity-linked securities in reference to the proposed enterprise mixture or sooner or later; the end result of any potential litigation, authorities and regulatory proceedings, investigations and inquiries; and people components mentioned in Fusion’s Annual Report, below the heading “Danger Elements,” and different paperwork of Fusion filed, or to be filed, with the Securities and Alternate Fee (“SEC”). If any of those dangers materialize or our assumptions show incorrect, precise outcomes may differ materially from the outcomes implied by these forward-looking statements. There could also be further dangers that neither MoneyLion nor Fusion presently know or that MoneyLion and Fusion at present consider are immaterial that would additionally trigger precise outcomes to vary from these contained within the forward-looking statements. As well as, forward-looking statements replicate MoneyLion’s and Fusion’s expectations, plans or forecasts of future occasions and views as of the date of this press launch. MoneyLion and Fusion anticipate that subsequent occasions and developments will trigger MoneyLion’s and Fusion’s assessments to alter. Nevertheless, whereas MoneyLion and Fusion might elect to replace these forward-looking statements sooner or later sooner or later, MoneyLion and Fusion particularly disclaim any obligation to take action. These forward-looking statements shouldn’t be relied upon as representing MoneyLion’s and Fusion’s assessments as of any date subsequent to the date of this press launch. Accordingly, undue reliance shouldn’t be positioned upon the forward-looking statements.
No Supply or Solicitation
This communication doesn’t represent a proposal to promote or the solicitation of a proposal to purchase any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction through which such provide, solicitation or sale could be illegal previous to registration or qualification below the securities legal guidelines of any such jurisdiction. No providing of securities shall be made besides by way of a prospectus assembly the necessities of part 10 of the Securities Act, or an exemption therefrom.
1 PIPLSAY, “The Rising Crypto Universe: How are People?” 18 February 2021 https://piplsay.com/the-growing-crypto-universe-how-interested-are-americans/?utm_source=Email&utm_medium=Text&utm_campaign=CryptowaveUStowaveUS
2 MoneyLion member survey, March 2021