2020 was a very unexpected, and in many ways challenging year for most of us. At Mode, we went from working in a London-based office from Monday to Friday to working from our kitchens, lounges – and in some cases, bedrooms. Like many others, our newfound reliance on Zoom meant that we became self proclaimed sufferers of ZDD (Zoom Dependent Disorder) – not quite what we had in mind for 2020, but circumstances that we all collectively relished nonetheless. With this in mind, we’ll remember 2020 not for the unforeseen challenges, but for the battles that were fought and conquered, and for the many great milestones that we achieved as a result.
Today, we wanted to kick the year off with a much needed dose of positivity, and take a moment to look back and highlight some of those very special achievements.
January – Hello world!
2020 started off with a bang. In January, we officially launched our Mode app on the UK App Store, which marked the beginning of our journey to become the go-to financial app for your money and Bitcoin.
On top of that, we achieved a major milestone when we hit our first 1,000 downloads – which at the time, was a cause for celebration across the board. This number looks tiny to us now, but back then it was a rather cool accomplishment, and it certainly boosted our egos.
April – Introducing the Bitcoin Jar!
In April, we made our app bigger and better. Our brand new interest generating product for Bitcoin – the Bitcoin Jar
– was launched. This was a huge step in setting ourselves apart from our competitors, by allowing our users to start unlocking the full potential of their digital assets by earning 5% APY interest. Today, this has become a stellar feature of ours – in fact, around 80% of the assets our customers hold with us are in the Bitcoin Jar.
July – Open Banking top-ups land
As always, we’re constantly trying to brainstorm ways to improve our offering and give our users the best possible Mode experience. In July, we introduced Open Banking
top-ups which allow our users to top up their account quickly and seamlessly from any of their high-street banking apps, taking convenience to a new level.
August – Flash Bitcoin transfers and appointment of ex-Alipay exec Rita Liu as CCO
Wishing you could share the Bitcoin love with your friends? Well, in August we took that off the wishlist and made it a reality! We introduced free and instant Bitcoin transfers for Mode users
, which helped us turn Mode into a one stop shop for managing, buying, selling and transferring Bitcoin.
We also announced the appointment of ex-Alipay UK CEO Rita Liu as our Chief Commercial Officer
and serving as a director on the board. This was an exciting addition to the team as Rita was an instrumental part of Alipay and building their operations in Europe. She is now helping Mode to pave the way for the future of finance and payments.
October – IPO time
October marked a historical moment for Mode, when we became one of the world’s first companies to be publicly listed with a consumer Bitcoin offering. With an IPO on the London Stock Exchange Main Market – one of the most reputable stock exchanges in the world – we sent a strong message of our longevity, and could finally truly embark on our mission to build the next-generation financial ecosystem that brings together the best of digital assets, payments, investment and loyalty.
And, to put our money where our mouth is, we allocated up to 10% of our cash reserves
to purchase Bitcoin and adopt it as a treasury reserve asset. We made this decision as a token of our recognition of the potential of Bitcoin as a reliable store of value.
December – No #2 in the App Store and rolling out the Android BETA
In the month of December, we reached our yearly record with trading volumes increasing by an impressive 1500% compared to August’s numbers. In addition, we reached a record high for active app users. This led to us making it to No2 in the UK App Store’s finance category, beating most high street banks. Bitcoin breaking it’s all time high record brought in a lot of first-time Bitcoin investors looking for a safe and easy way to hold and grow their Bitcoin assets.
We also launched our Android BETA app! If you’d like to become a BETA tester, please get in touch via any of our social media channels or via [email protected]
2021 – An even better year?
With so many milestones achieved in 2020, how can 2021 upstage it? Well, we don’t think it will be hard. We’ve got plenty of exciting plans ahead and we can’t wait to share more information with you soon. Think an app redesign and new features including paying and getting rewarded by your favourite online stores using Mode… We’re sure you don’t want to miss out! For now, all we can say is keep your eyes peeled for some exciting announcements!