MoneyToken Platform to Facilitate Exchanging Secured Cryptocurrencies for Fiat Loans
Can you imagine a scenario where you get a $500,000 loan within minutes with just your Telegram app? It can become a reality thanks to the MoneyToken project.
The MoneyToken platform seeks to resolve one of the key issues plaguing the crypto market – making these assets effective liquid instruments. How do you persuade cryptocurrency owners to trade or sell instead of holding their assets? What if you use crypto assets as collateral to take out a loan in fiat money? In this way, you don’t need to sell your appreciating Bitcoin but, at the same time, you have the opportunity to spend traditional money.
The key problems here are creating a secure place for lenders and borrowers to meet, providing proper risk management to clients, and reducing the risk lenders face due to the volatile nature of crypto assets.
“MoneyToken aims to resolve these issues, managing clients’ risks and creating a stable lending model using cryptocurrencies as a security deposit. Our model aims to facilitate access to credit while building a new credit market – loans backed by crypto collateral, based on the security and transparency of blockchain technology,” comments Alex Rass, co-founder and CTO of the project.
The icing on the cake is Amanda. This artificial intelligence assistant who will help you get the loan in a matter of minutes. Amanda will be the entity behind the automated loan operations of the MoneyToken marketplace.
MoneyToken Token Sale details
The Private Sale stage of MoneyToken’s Token Sale is in progress and will end on March 21, 2018, with more than $600,000 in contributions raised so far. The next step for MoneyToken will be the Pre-Sale stage, scheduled to start March 22 and end April 12, 2018.
To gain access to the Private Sale, interested contributors should apply to the MoneyToken Whitelist.
If you are a cryptocurrency holder, or interested in finding out more about the project and the Token Sale, you can visit the official website or follow the project on Twitter and Telegram.
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