Founder of Bitcoin.com, Roger Ver, with COO Mate Tokey has joined that advisory board of MoneyToken, reported bitcoinist.com. Their partnership aims to benefit the BCH community through ICO.
Roger Ver seems confident with the company’s vision as he not shy of describing the merits it will bring in the crypto space. He said, “MoneyToken is a bright example of the real use of blockchain technology, as well as offering a massive boost for crypto market liquidity for all market players, and especially for businesses.”
FinTech experts from UK and US are behind the creation of blockchain based financial service platform known as MoneyToken. These experts have years of experience gained by working in Goldman Sachs, Bloomberg, Prudential Financial and Ernst & Young. Its presale launch was announced on March 22, and since then it has raised more than $3.6 million.
The platform is trying to deal with the biggest problem faced by a crypto dealer worldwide, i.e., lack of liquidity. Crypto investment signifies that a user won’t be able to make gains on the future growth in the asset’s value. In simple terms, long-term investors do not have the option of liquefying their investment.
To solve the issue this network allows its user to acquire liquid funds regardless of the fact it being a company or an individual. User’s digital currency assets holdings are transformed into a collateralized loan. Loan’s value will depend on the current market value of the holdings. After returning the loan, a user will get back the collateral at its market value. It helps crypto holders in accessing liquid funds in need while saving their holdings within their portfolio.
In order to initiate the benefits, BCH can be used as collateral to borrow loan from MoneyToken’s lending format. It is being hoped that bitcoin.com will assist the platform in its pre-sale stage. The project will open itself to a powerful crypto community while getting support from two of the most dominant crypto experts.
CEO and Co-Founder, Jerome MacGilliyvay, said, “The Bitcoin Cash community is a unique and powerful force in cryptocurrency; adding our support to Bitcoin Cash and allowing our potential token buyers and future lenders and borrowers to operate in BCH, only adds to our portfolio and strengthens the value of MoneyToken as a product for all our users.”
According to news published in finsmes.com, the AI assistant of the platform, Amanda, will be assisting crypto holders in borrowing loans from the platform. Amanda will provide loan registration and approval services while paying in stable currencies. She will guide borrowers through the entire process from filing loan application to providing automatic alerts over margin calls.
As of now, the network is releasing its tokens in a pre-sale on a 25 percent discount. You can gain more information through their official accounts on Facebook, Twitter, and other social platforms. This platform has a lot to offer, and it can possibly crumble down beneath the weight of expectations. But, if it achieves success, a whole new spectrum of financial technology will develop.