Mode, the company founded in 2018 by the Twitter co-founder Biz Stone has launched the iOS version of its Bitcoin app. This app is now available on the Mode site with plans underway to launch versions for other operating systems.
To use the app, the registrants are expected to pass through a KYC which would enable them to purchase bitcoin directly from their bank with at least 50 euro ($65). The roll-out announced February 4 stated that purchases can be made with bank cards or transfers. The information seen by Cryptoinfowatch stated that all funds purchases are processed by the custodial service BitGo.
According to Ariane Murphy, the head of communication and marketing at Mode,
“The Mode app addresses transaction restrictions issues, low speed/high cost, lack of security and most importantly, tackles the poor user experience typically associated with Bitcoin apps.”
R8 Group is the parent firm of Mode. It had announced that the roll-out of the app would initially be based on invitation only. A waiting list had been set since October 2019. The app could be accessed from virtually every country except the United States which has been excluded due to compliance issues.