Mode Global files for US OTC listing to tap cryptocurrency demand

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Mode Global Holdings PLC (LON:MODE) filed an application with OTC Markets Group for its shares to be cross-traded publicly on the OTCQB Venture Market (“OTCQB”) under the ticker “MODE”.

The fintech said listing on OTCQB would help its shares become widely accessible to US investors, helping to boost liquidity, diversify the shareholder register and increase brand visibility for the company globally.

The listing will have no impact on existing trading in Mode’s shares on the London Stock Exchange’s Main Market, it added, and no new shares will be issued as part of the US listing.

Jonathan Rowland, Mode executive chairman said: “Offering cross-trading in Mode shares on the OTCQB means that we can offer US investors the chance to participate in our exciting and ambitious plans to deliver a truly disruptive ecosystem enabled by Bitcoin and Open Banking.

“The move would benefit all shareholders of Mode as research shows that trading on the OTC by international companies not only raises their profile internationally but also boosts the liquidity of their shares.”

Ariane Murphy, chief investor relations officer, added:  “There is a growing appetite for US investors to get involved in public companies with a cryptocurrency offering.

“Therefore, if our application is successful, we could be opening the doors to a significant number of new shareholders.”

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