Money Token - Cryptocurrency Backed Loan Platform
Money Token - Cryptocurrency Backed Loan Platform
With Money Token, There Is No Reason to Sell Your BTC When You Need Cash or Stable Currency
The MoneyToken ecosystem includes:
Сryptocurrency-backed Loan Platform.
Stablecoin.
MoneyToken Exchange service.
What problem is MoneyToken solving?
The MoneyToken platform allows you to borrow liquid funds right now, based on the current and future value of your cryptocurrency asset holdings. You take out a short or medium term loan, collateralized with more volatile assets such as BitCoin and Ethereum - and in return you receive an agreed loan amount in a stable currency. On successful repayment, you receive back your crypto-assets in full.
Advantages of MoneyToken compared to traditional banks
- Auto confirmation in seconds or minutes
- No requirement for credit assesment or asset verification
- Customers manage their own lending conditions with the support of robotic supporter Amanda
- Able to store collateral in some cryptocurrency assets to make them stable and lower the increasing pressure on interest rate
Safe and effective operations during the transfer and storage process
The MoneyToken Lending Model uses fluctuating crypto-assets as collateral for loans given in fiat or stablecoin currency.
The list of advantages of this model is compared to traditional banking schemes or pawnshops
How does that benefit the crypto community?
MoneyToken gives the crypto community the opportunity to use cryptocurrency holdings just like any other classic asset class; borrowing today, based on the expected future value of the asset. Customers get to hold onto their growing assets whilst gaining the ability to spend and make investments right now.
Since the ownership of a blockchain-based asset is verifiable, and the value is transparent to the market, users don't need to undergo invasive and unnecessary credit checks - there is nothing added to users credit history or any public credit file. Equally the loan decision can be made almost instantaneously - there is no need for MoneyToken to make extensive evaluations of the market value of clients assets (unlike, for example, as happens if you remortgage a property).
Difference from other crypto-backed loans platforms:
- MoneyToken is an infrastructure project. It's not just a lending platform: MoneyToken has its own ecosystem, aimed at creating its own stablecoin and decentralized exchange service.
- The majority of the projects on the credit market are based on a P2P model, in which the platform acts as an intermediary. MoneyToken model is b2b2c. The platform has its own credit fund and acts as a lender. The clients of the platform act as borrowers.
- Most of these projects issue loans in fiat money. MoneyToken also allows loans in stablecoins (bitUSD, USDT, Dai and MTC - MoneyToken own stablecoin); the MoneyToken team believes that future of payment methods lies in cryptocurrency.
- While most of the platforms have geographic restrictions, MoneyToken will be fully available to the clients from all over the world.
- Other platforms mostly use tokens to pay fees within the service. MoneyToken, however, does not apply any additional fees, and the token plays a unique infrastructure role, providing benefits, such as a discount on the interest rate.
About the Team
MoneyTokens board members have strong experience in IT, FinTech and Banking in companies such as Goldman Sachs, Prudential Financial and CitiBank. Both founders operate tech companies in NY, London and Europe.
To learn more about Money Token, here are some links you might find helpful :
Website : https://moneytoken.com/
Whitepaper : https://moneytoken.com/doc/MoneyTokenWP_ENG.pdf
Telegram : https://t.me/moneytoken
Twitter : https://twitter.com/MoneyToken
Facebook: https://www.facebook.com/MoneyTokenOfficial/
Author:
Bitcointalk Username : withlove99
Bitcointalk URL : https://bitcointalk.org/index.php?action=profile;u=1634276