WILMINGTON, DELAWARE, US, January 25, 2021 /EINPresswire.com/ — The management of Monetran has announced that the company will participate in an online investor information Demo sponsored by the SEC licensed and regulated portal, Netcapital, on January 28, 2021. Monetran is a fintech startup which is headquartered in Wilmington, Delaware. The company is currently raising funds through an SEC Regulation Crowdfunding adminstered by Netcapital. Class A voting units in the company are available through Netcapital at a price of $1.25 per unit. Each unit purchased entitles the investor to a free Monetran token called Moneda.
The online Demo is scheduled to begin at 7 p.m. ET. Anyone interested in viewing can register here.
Monetran is preparing for a launch of its minimal viable product, or MVP, which will enable customers to buy, redeem, or transfer Moneda tokens. Moneda are stable tokens backed by a portfolio of investments, primarily short term Government issues. Backing their tokens with interest bearing instruments ensures that Moneda will be able to be used in both commerce and to be held as a long term store of value.
Monetran is a two-part project – an asset backed, redeemable stable token and a system which enables the tokens to be used for purchases, transfers, or to be held for wealth preservation. The company hopes to attract savers from outside the U.S. whose local currencies are subject to high inflation. Because of Moneda’s inherent stability, it will serve as a preserver of wealth for those customers.
Argentina, with a current inflation rate in excess of 40%, is considered a prime location to market Moneda for the purpose of wealth preservation.
The ultimate goal of Monetran is to enter the $600 billion global remittance market. The company expects to enable remittance customers to make cross-border transfers at a savings of 70% compared to what the biggest competitors in the sector charge.
“Residents in Mexico receive in the neighborhood of $30 billion in remittances from the United States every year,” Monetran’s CEO, Don Bielak, said. “We have a goal of capturing 3% of that market. If we are successful, the fees associated with that volume of business will translate to $10 million annually. And that is only one market. There are many more available to us, and we will strive to expand into those areas, also.”
Monetran is built on the ultra-fast Stellar blockchain. Transfers can be completed anywhere in the world in 3-5 seconds at a fraction of a cent each.
The Monetran website can be accessed at monetran.com and the company’s Netcapital page is on https://netcapital.com/companies/monetran.
Originally published by the Boston Herald.