Metal Pay, a peer-to-peer payment platform, just brought in a significant investment from Erik Finman, also known as the world’s youngest Bitcoin millionare.
Essentially, the Metal Pay project looks to build an “all-in-one” platform for banking cryptocurrency. It will include but isn’t limited to a cryptocurrency exchange, a bank application, and payment transfer systems not unlike Venmo.
Metal Pay was founded just under a year ago, and has since processed $11 million in payments. That and the system seen close to 130,000 users register on its platform, living in 38 states across the US. Divided up, that accounts for around $1 million a month from 30,000 or so users.
At only 20 years old, Finman spoke to CoinDesk about the situation:
“We’re looking to beat bitcoin. I’ve been a bit back and forth in the past (‘crypto is dead’/ ‘resurrect Bitcoin’) but have found in recent months, especially, that the bitcoin community is super fragmented. And the actual usability for bitcoin is minimal.”
Essentially, Metal Pay is in place to move past a segmented industry and to ensure cryptocurrency trading becomes somewhat of a normal thing. Marshall Hayner, CEO of Metal Pay, agrees strongly, stating that cryptocurrencies are closer to the traditional finance industry now than they were back at the start. “When you could still mine BTC on a MacBook,” he claims.
The startup already partners with Evolve Bank and Trust, based out of Arkansas, to work the way it does. It has an asset, the MTL token, which ensures that miners receive 5% of the transaction they help to verify as a sort of “cash back” method. Also, anyone who holds over 10,000 MTL on Binance or other popular cryptocurrency exchanges won’t have to pay trading fees. Ending the article is a quote from Hayner, describing the state of the industry as it is:
“Bitcoin is flawed, but only in the way the Ford Model T was flawed, the concept of a car will live on and constantly be improved upon, hopefully it builds upon the existing model and there is always room for Ford, Toyota, Mazda, BMW, Tesla even!”
Trusted & Regulated Stock & CFD Brokers
What we like
- 0% Fees on Stocks
- 5000+ Stocks, ETFs and other Markets
- Accepts Paypal Deposits
Min Deposit
$200
Charge per Trade
Zero Commission on real stocks
64 traders signed up today
Visit Now67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Available Assets
- Total Number of Stocks & Shares5000+
- US Stocks
- German Stocks
- UK Stocks
- European
- ETF Stocks
- IPO
- Funds
- Bonds
- Options
- Futures
- CFDs
- Crypto
Charge per Trade
- FTSE 100 Zero Commission
- NASDAQ Zero Commission
- DAX Zero Commission
- Facebook Zero Commission
- Alphabet Zero Commission
- Tesla Zero Commission
- Apple Zero Commission
- Microsoft Zero Commission
Deposit Method
- Wire Transfer
- Credit Cards
- Bank Account
- Paypall
- Skrill
- Neteller
What we like
- Sign up today and get $5 free
- Fractals Available
- Paypal Available
Min Deposit
$0
Charge per Trade
$1 to $9 PCM
Visit Now
Investing in financial markets carries risk, you have the potential to lose your total investment.
Available Assets
- Total Number of Shares999
- US Stocks
- German Stocks
- UK Stocks
- European Stocks
- EFTs
- IPOs
- Funds
- Bonds
- Options
- Futures
- CFDs
- Crypto
Charge per Trade
- FTSE 100 $1 - $9 per month
- NASDAQ $1 - $9 per month
- DAX $1 - $9 per month
- Facebook $1 - $9 per month
- Alphabet $1 - $9 per month
- Telsa $1 - $9 per month
- Apple $1 - $9 per month
- Microsoft $1 - $9 per month
Deposit Method
- Wire Transfer
- Credit Cards
- Bank Account
Share
Max Moeller
