More Mass Effect 3 multiplayer details, will be wave based

Includes custom loadouts, transferable currency, classes and character creation.
[Update: New multiplayer video can be found here.]
It seems that the rumours of multiplayer in Mass Effect have been around for years, since before the arrival of the first game back in November of 2007. For so long those rumours persisted, lingered and grew like the fart of a KFC enthusiast. 
However, since the reveal of co-op multiplayer for Mass Effect 3 earlier this week the official info is not letting up. Yesterday we reported on an FAQ released by BioWare that let on the multiplayer will impact single-player if you want it to and that a dedicated studio (BioWare Montreal) will be handling the mode/s.
Today comes the news that multiplayer (one portoin of it at least/perhaps) will take the form of a wave-based survival mode – one that doesn’t sound all that dissimilar in make-up to that of Gears of War 3’s ‘Horde’ mode. 
You’ll be able to create your own character, altering elements such as class, gender and race and weapon/equipment loadout. Matches take place in groups of up to four in 11-wave based rounds against enemies that get progressively stronger and more numerous. 
‘War Assets’ can be earned in multiplayer for completing matches and accomplishing various side-objectives – such as finding data packets and hacking terminals. It’s believed that any war assets you’ve collected can be tranferred into your single-player game as a form of currency. 
Aside from War Assets, you’ll also earn experience in multiplayer that allows you to level up your character/s. 
At the rate we’re going there’ll probably be more new info tomorrow, so make sure to check back.
Source: Stick Skills