Blockchain-based payment processing platform Metallicus has introduced Metal Pay.
Metal Pay will enable instant fund transfers to individuals and businesses.
Go deeper with GlobalData
The new product allows transfer of money directly to the beneficiary’s mobile number eliminating the need to insert bank details.
Additionally, the sender is awarded with some cryptocurrency after every transaction in Metal’s cryptocurrency MTL.
Metal Pay capabilities
Users can redeem these rewards called ‘Pop’ in US currency, transferred to another Metal Pay user or saved as investment.
Metallicus is also planning to link its new product with the micro investing app Crumbs. Following the link, all users can invest their wallet balance in cryptocurrency.
Metal co-founder and CEO Marshall Hayner said: “The millennial generation is largely powered and built the internet, and yet only a handful of people — some worth tens of billions of dollars alone — benefited, while the majority are facing the scariest financial future of any generation in modern US history.
“Our generation coming into adulthood right now has the biggest opportunity of the past 100 years and they don’t even know it yet. Together, we can create a world where money works for us, where we don’t work for money — that’s the vision.”
Customers can sign up of the new service by linking their bank account to the Metal Pay app.
They can start transactions following the verification of their identity and phone number.
