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MoneyLion to Start Trading After SPAC Merger









Digital finance platform MoneyLion has announced a combination with Fusion, a press release says.

The combined company will be called MoneyLion Inc. and will be led by the current team of leaders.

“Today marks an incredible milestone for MoneyLion,” said Dee Choubey, co-founder and CEO of MoneyLion. “Taking this step to become a public company provides us with an incredibly strong balance sheet to accelerate our mission of using our digital financial platform to rewire the banking system and help more people take control of their finances and achieve their life goals. We are grateful for the support from our global team, our investors and everyone who helped us reach this moment, and we are excited for the future ahead.”

Meanwhile, Fusion CEO John James said teaming up with the MoneyLion team would be good for adding more capital and expanding that company’s big suite of products and services. That includes both organically as well as through various acquisitions.

MoneyLion has gone public as of Sept. 22.

MoneyLion also recently debuted a cryptocurrency selling feature for both buying and selling. PYMNTS writes that this will consist of options for bitcoin and ethereum and will be officially rolled out by Oct. 5. And there will be additional cryptocurrencies rolled out in the future.

Read more: MoneyLion Intros Crypto Trading with $1M Prize Before IPO

Choubey said that the company was “ very intentional in how we’ve integrated our crypto offering into the platform by offering our members both the ability to transact directly in digital assets, along with a ‘found money’ approach that enables them to gain exposure to the asset class slowly over time by allowing them to round-up their debit card purchases in Bitcoin.”

PYMNTS also reports that there will be a crypto prize pool for $1 million which, at the end of the promotional period between Sept. 16 and Oct. 5, will be equally distributed to all registrants.




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