Blockchain Integration Sends Shares Soaring… Again: ReportOctober 31, 2017 1:35 pm
Blockchain integration has resulted in Canadian startup Mogo joining UK-based On-Line PLC as the price has skyrocketed, CoinTelegraph.com reported Tuesday.
The report says the online lender saw its biggest rise since it launched an initial public offering (IPO) two years ago on hints cryptocurrency functionality could soon come to user wallets.
Starting at a low of CAD$3.93 ($3.06) Oct. 26, Mogo soared to a high of CAD$5.15 ($4.01) two days after the announcement, the report said.
“Canadians, especially tech-savvy millennials, want a safe, trusted and easy way to own and ultimately use Bitcoin and other cryptocurrencies,” president and CFO Greg Feller said in a news release about the integration Monday.
He continued: “…We believe Mogo is uniquely positioned to offer consumers the ability to own and use cryptocurrencies in a simple, transparent and trusted way.”
Cointelegraph reported last week on the Blockchain hype phenomenon acutely affecting legacy company share performance.
Once little known, On-Line, on the market since 1996, saw its biggest valuation increase in more than a decade after it changed its name to include ‘Blockchain.’
“Blockchain technology will clearly have a profound impact on the next generation banking experience and we are excited to begin adding this into our product and platform roadmap,” Feller added.
– WN.com, Jack Durschlag