First release of Monetas platform with integrated foreign exchange feature

29.01.2016 14:00

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Monetas, a leading Swiss provider of cryptofinance technologies, has launched their new example android application. This new mobile app is a model of the mobile wallet powered by the Monetas advanced cryptofinance transaction platform.

The foreign exchange feature that is demonstrated in this new app lets anyone with an Android smartphone instantly trade one currency (digital cash) for another, anytime, anywhere, and at much lower cost than a traditional currency exchange.

The app displays the exchange rates and costs related to each transaction with total transparency. Users don't need to be financial experts to understand what they are paying to trade one currency for another.

The beta version app is part of a system Monetas has created that enables the issuance of digital currency and provision of other services using cryptofinance technology. It demonstrates some of the features that will be available to consumers in the production application, which will be offered by Monetas partners. The production application, provided by Monetas partners, will enable consumers and businesses to make fast, low-cost and secure money transfers from their smartphone, and hold multiple currencies within the same wallet.

“This first release of the Monetas platform marks an important milestone in the evolution of the digital economy. For the first time, users are now able to trade any type of currency or financial instrument, right from their mobile phone. The Monetas platform enables the full range of transactions, from small grocery purchases to global remittances and complex financial instrument trades. We’re very excited about the rapid progress we're making towards our vision of financial inclusion for everyone”, said Monetas CEO Johann Gevers. “The Monetas platform brings blazing speed, extremely low costs, universal interoperability, and an unparalleled user experience to mobile money.”

The free demo version with play money is available for download from the Google Play store. Please note, instructions to receive play money on the app are detailed on the play store.

Monetas is a software technology company based in Switzerland. The cutting-edge Monetas platform is a combination of cryptofinance technologies working together to enable any type of transaction to be conducted instantly, privately, and securely. The Monetas platform makes all traditional and emerging financial technologies, including blockchain technologies, accessible to consumers. The first deployment of Monetas technology focuses on consumer financial applications in Africa.

Monetas licenses its software to regional partners and provides them with a suite of “white label” example applications that complete the Monetas commercial ecosystem. These example applications can be modified by partners in order to meet their region’s specific market requirements.

Monetas has raised 7m CHF to date from a large global investor community valuing the company at 90m CHF (Jan 16).

(SK)

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