Share this article
Mode Global Approved by UK Regulator for Crypto-Asset Registration
Mode now plans to decommission its "Bitcoin Jar" investment product to focus on building a payment system with a bitcoin cashback offering.
Updated Sep 14, 2021, 1:16 p.m. Published Jun 24, 2021, 12:33 p.m.
Make us preferred on Google
Mode Global Holdings has won approval from the U.K.'s Financial Conduct Authority (FCA) to join the regulator's crypto-asset business register.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The financial-services regulator granted anti-money laundering approval to Mode's Fibermode subsidiary and awarded an electronic money license to its Greyfoxx unit, an announcement Thursday said.
- With the registration, Mode plans to decommission its "Bitcoin Jar" investment product to focus on building a payment system with a bitcoin cashback offering.
- Mode shares trade on the London Stock Exchange with a market capitalization of over £44 million ($61 million).
- The FCA became the U.K.'s anti-money laundering and counter-terrorist financing supervisor of crypto asset firms in January, requiring businesses to register under its auspices to continue to operate.
- Mode joins two Gemini entities, Archax, Ziglu and Digivault, the custody arm of Diginex, on the register.
- The deadline for registration was recently extended from July 9 to March 31.
- The regulator warned yesterday that there are 111 unregistered crypto-asset firms in the U.K., which poses a risk to the broader financial system.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Bitcoin, ether extend declines as leverage unwind accelerates: Crypto Markets Today
Crypto markets fell further overnight as bitcoin and ether extended losses, metals tumbled and liquidation pressure hit leveraged traders across derivatives markets.
What to know:
- Bitcoin and ether extended declines as the crypto market compounded Thursday's selloff.
- Silver and gold also fell, adding to broader market weakness alongside a firmer dollar.
- Crypto liquidations hit $1.8 billion, while bitcoin dominance slipped as traders rotated into riskier altcoins.
Top Stories
