Harbinger Times

MicroMoney Banks The Unbanked With $30M Token Swap

SINGAPORE – 21 Sep, 2017 – In its mission of financial inclusion for over 2 billion of unbanked and underbanked people to the global financial system, MicroMoney, a global fintech blockchain company and lending services provider to the unbanked, sets Oct. 18 as the launch date for the AMM token swap valued at $30 million.

The crowdsale comes on the heels of ETH to AMM token swap valued at $0.93 million. MicroMoney’s token has a built-in audience of users. A thriving business in Myanmar, Cambodia, Thailand, Indonesia and Sri Lanka with 100,000 registered users and 40,000 issued loans projected EOY, MicroMoney aims to use the funds from the token distribution to add 25 million customers to MicroMoney family.

While making applicants prove their creditworthiness with endless paperwork, banks are not able to approve first loan applications for billions of people worldwide due to absence of credit history and records. MicroMoney breaks this vicious cycle by offering the unbanked an opportunity to obtain their first loan thanks to an intelligent scoring solution based on neural networks, Big Data and AI technologies.  The opportunity comes in the form of MicroMoney’s mobile app. The only thing the company needs to evaluate borrowers’ creditworthiness is their smartphone’s data.

“This token distribution is not just about only business, it’s about social justice, about giving back and about leveling the playing field for millions of people who are systematically denied opportunity,” said Anton Dziatkovski, MicroMoney co-founder. “Participants of AMM token distribution are not just making MicroMoney’s services available to millions of the unbanked, they enable our customers to share their data with financial and retail companies, thus making them holders of their credit score, eligible to offerings from other banks and organizations, so they can finally be the rightful participants of the global economy.”

MicroMoney’s business model would have been impossible without verification tools implemented into the financial services environment by the worldwide growing adoption of blockchain.

“With stable position and experience in the crypto community, we are creating a blockchain-based credit score bureau, which will solve the inclusion problem for billions of potential clients all over the world,” said Sai Hnin Aung, MicroMoney co-founder.

MicroMoney’s token distribution is attracting resources to underwrite more served customers, to promote the service to end users, to help harvest and market end user data to financial institutions and to help scale MicroMoney through franchise sales.

“MicroMoney places thousands of potential clients in reach for companies, banks, insurance and telecom service providers, offering one of the lowest cost customer acquisition models when compared to traditional banks and credit bureaus,» said Madhawa Edussuriy, Managing Director at Prosperous Capital & Credit Limited, MicroMoney partner and advisor.

Founded in 2015, MicroMoney is a stable, mature business, with a win-win business model backed by its shareholders, experienced financiers with professional backgrounds encompassing work at financial information services, securities exchanges, investment banks, venture funds, banking and microfinance organizations.

“In our ambition to make our successful business model available for a worldwide franchise, we count on a successful AMM token distribution campaign that will serve a greater cause and offer token holders true value of their participation,” Dziatkovski said.

About MicroMoney

Founded in 2015, MicroMoney is a global fintech company offering financial services for the unbanked in the emerging markets, and access to the unbanked audience for banks, trade, and financial organizations. MicroMoney is a fast-growing company with $1.86 million paid-in capital and over 70 employees across offices in Singapore, Thailand, Myanmar, and Cambodia.

MicroMoney makes lending decisions using a scoring platform based on neural networks as opposed to requiring collateral or paper documentation. MicroMoney collects customers’ mobile phone data to assess potential borrowers’ score rate and to share the data with financial institutions’  worldwide.

Contact: Max Smetannikov, Irina Nazarova, MVG for MicroMoney, +1 646 205 7030, [email protected]

Media Contact
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Contact Person: Max Smetannikov
Email: [email protected]
Phone: 917 310 3396
Country: Singapore
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