The partnership may bring new benefits to the Bitcoin Cash community, and provide it with widen range of financial management options.
Bitcoin.com’s CEO Roger Ver and COO Mate Tokay have become advisors to a fintech startup MoneyToken, as reported in MoneyToken’s announcement. The partnership between MoneyToken and Bitcoin.com may bring new benefits to the Bitcoin Cash (BCH) community, as BCH will be available as accepted collateral on the MoneyToken lending platform, says the joint press release.
According to Bitcoin.com, Roger Ver is also an advocate of Bitcoin Cash and one of the key influencers in the crypto community because of his early investments - since 2011 - in crypto-related startups including Ripple, Blockchain.info, Bitpay and Kraken. Ver’s company, MemoryDealers, became the first company in the world to accept Bitcoin as a payment option for its services.
As reported in the MoneyToken announcement, Mate Tokay has been involved in the cryptocurrency business as a miner since 2013. He co-founded Bitcoinist.net a cryptocurrency news magazine and he is now the COO at Bitcoin.com - one of the most popular source for bitcoin related news and information.
MoneyToken is a cryptocurrency-backed lending platform that provides loans to cryptocurrency holders. The main idea is that a borrower who owns cryptos may simultaneously deposit cryptos as a long-term asset and spend it at the same time by investing in new initial coin offerings (ICOs), or by trading at exchanges.
“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,” Roger Ver said at the press release on the partnership with MoneyToken.
With leading Bitcoin.com executives on the board of advisors, MoneyToken faces new opportunities. “Now Bitcoin Cash holders can enjoy the benefits that MoneyToken offers - leveraging their assets and spending cash, while continuing to hold their crypto positions”, says the announcement.
“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.” Commented Jerome MacGillivray, Co-Founder of MoneyToken.
Conquering fintech user’s hearts
The MoneyToken platform, aimed at miners, projects that made their token sales, traders, investors and exchanges, will allow holders of crypto assets to gain access to loan-based financial services, using cryptocurrency as collateral.
The MoneyToken business model works as following. Any user may deposit his Bitcoins, Ethers or other coins at MoneyToken and in return receive the a loan that may be spent on investments in US dollars or cryptocurrencies.
MoneyToken has launched its public token presale on May 2, 2018 with a 20 percent bonus. The crowdsale campaign will last until June 6, 2018. So far, the MoneyToken team has overpassed its softcap goal, having raised almost $10 mln. The hardcap is $41.5 mln.
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.