Wilmington, DE – – The management of Monetran LLC has announced that they have successfully launched the first stage of their global fintech project. The project allows customers to buy, redeem, transfer, or hold company tokens. This stage is the precursor to a future system which will allow cross-border remittances and domestic payments of virtually any type, reducing costs to consumers and merchants alike due to Monetran’s transaction fees, which will be up to 70% less than major competitors.
The Monetran token, known as Moneda, has been designed for mass adoption by the public. Monedas are backed by interest bearing U.S. Government financial instruments and are redeemable from the company. Monetran says that backing their currency with interest bearing instruments empowers the token to withstand inflation, making it a true store of value. In addition, Monedas will maintain a stable price, making them the perfect medium of exchange for commerce.
Monetran is a two-part project – the 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.
“I understand that residents of Argentina have looked to bitcoin in an effort to protect their savings from the ravages of inflation,” Monetran’s CEO, Don Bielak said. “The problem with bitcoin is that it is wildly unstable. You may buy bitcoin for $40,000 one day and it could fall to $35,000 the next. How does it make sense to rely on something that can fluctuate so much in such a short period of time? Stable tokens offer a true store of value, and ours are designed to gradually increase in price so the purchasing power is preserved over long periods of time.
The company is currently raising funds through an SEC Regulation Crowdfunding being administered by the portal, Netcapital. Units, which include a free Moneda token as a perk, can be purchased on the Netcapital site. However, time is running out on the offering, which is set to expire on February 19.
Originally published in the Boston Herald.