Wilmington, DE – – When Facebook announced plans last month for its new cryptocurrency called Libra, many experts in the field speculated that Facebook’s entry into the market could create interest in digital currency as a whole. At least one company, Monetran, believes it has indeed benefited from Facebook’s announcement.
Monetran is an internet fintech company which has developed its own cryptocurrency, called Moneda. Moneda shares a number of qualities with Facebook’s Libra, leading Monetran’s management to postulate that recent increases in investments may have a connection.
Both Moneda and Libra are stablecoins, or stable tokens, which means they will have stable prices and avoid the volatility which hampers most other coins. The two cryptocurrencies will, at the outset, be involved in remittances and other cross-border payments. Another similarity is that both Moneda and Libra will be built on an ultra-fast blockchain which utilizes Byzantine Fault Tolerance to verify transactions.
But perhaps the biggest similarity is that both Moneda and Libra will be backed by short-term U.S. treasuries. This enables the two cryptocurrencies to serve as a long-term store of value.
“Almost immediately after Facebook came out with the details of their new cryptocurrency, we started to detect increased interest in Monetran and Moneda,” Don Bielak, CEO of Monetran said. “I tend to believe that investors have recognized the similarities between Moneda and Libra, and realize that the Monetran project is as well thought out and well constructed as that of a huge company like Facebook. In addition, those considering investing in Monetran may have become aware that we have developed a method for stabilizing the currency which is patent pending.”
Since Facebook’s announcement concerning Libra, Monetran has experienced an increase in both investors and the amount of money raised. “In just a few weeks since Facebook’s announcement, investment in Monetran has increased by approximately 25%,” Bielak said. “The company has experienced a similar increase in the percentage of investors, also.”
Monetran is currently engaged in an SEC Regulation Crowdfunding which enables companies to offer shares to the public at a set price. Equity in Monetran is available through its SEC regulated intermediary, StartEngine. Further info on the company can be obtained at the company website, Monetran.com.