Mode, the new-breed digital banking app offering traditional and cryptocurrency accounts in one single app, is officially launching Euro accounts with SEPA access to provide its UK and European customers with a secure and simple way to add, hold and use EUR to buy BTC.
Powered by Mode’s FCA-regulated banking partner, Modulr, who already provide the infrastructure for Mode’s existing GBP accounts, the Euro account has been designed for UK residents who get paid in EUR and customers who are based in any of Mode’s supported European countries.
Opening up a Mode Euro account incurs zero setup fees or monthly costs for users, and it means that:
- Users will receive their own Euro-denominated IBAN in their name
- Users can make free EUR (SEPA) transfers in and out of Mode
- Users can buy Bitcoin instantly using EUR
Mode’s Euro account launch is an important milestone in making it easy for everyday investors around the world to enter the world of cryptocurrencies and own a piece of that world. Similarly, it is a key first step towards unlocking faster, easier, and more reliable ways for users to move money across Europe, as later this year, Mode plans to enable free and instant transfers between Mode users in EUR, GBP and BTC.
To open a Euro account, users must have a verified Mode account and be a resident of any of the supported countries. Once opened, they will be able to transfer money from their bank account to their Mode Euro account in just a few taps. Thanks to Mode’s use of cutting-edge technology, users will receive an instant notification as soon as their money hits their Mode account through SEPA.
Janis Legler, Chief Product Officer at Mode, said: “Launching Euro accounts has been a top priority for the Mode team and we are finally extremely excited to have made it happen. Many of our customers hold strong ties with Europe, through business clients, family and friends, which meant that we needed to offer them a solution as soon as possible.
Today, we are proud to announce that our users can simply and securely manage their GBP, BTC and now their EUR from one single app, which we are certain will empower more people to access the new and exciting world of digital assets.
With the launch of this new feature, we wanted to demonstrate our commitment to continuing to provide value to our users and delivering enhanced banking capabilities which will offer them new ways of using Mode every day.
Source: Mode Banking