Moeda, a cryptocurrency banking-as-a-service cooperative network that aims to empower underbanked entrepreneurs through blockchain technology has announced plans to relaunch its Moeda (MDA) digital token. Relaunching is part of a strategy to broaden Moeda’s core lending and financial-education activities beyond serving women entrepreneurs.
The finance co-operative is also recalibrating its funding ceiling by pegging the value of the MDA tokens to the U.S. dollar, rather than to the Ethereum blockchain’s ether (ETH) token, which has risen in value in recent months.
Moeda is accepting direct donations of bitcoin and fiat currency for MDA tokens with assistance from Bitcoin Suisse AG, a regulated cryptocurrency financial broker, asset manager, and service provider based in Zug, Switzerland. Nine million MDA tokens are held by the Swiss company and will be allocated for pre-sales, advisors, and bounties. The remainder will be held in the Moeda Foundation for later use.
The onboarding of the private contribution phase via Bitcoin Suisse starts today July 18th, with a public phase running from July 28 to Aug. 28. Contributors will receive one MDA token in exchange for one U.S dollar’s worth of ETH. The USD/ETH exchange rate will be updated daily. A maximum of 5 million MDA tokens will be issued in the public phase.
“We aim to provide a community-focused mobile lending system that will give investors real-time transparency in projects that align with sustainable development goals. The token’s relaunch is crucial to achieving Moeda’s mission. These updates do not change how we direct funds toward developing the Moeda platform and empowering borrowers.”
Moeda has pledged to the Brazilian Central Bank, Brazilian tax authorities and regulatory bodies that it will maintain a transparent and compliant digital banking venture that will regularly provide information about its seed projects and other operations in the country.
Previous buyers of Moeda tokens will receive a loyalty bonus on their initial outlay to compensate for realignment of the token peg.
