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Cryptocurrencies are now worth over $600 billion. This is more than the net worth of Amazon or Facebook. Owing to its continual growth, many great projects have emerged that are developing to enhance pre-existing services and products. As the number of projects increases, so does the demand and need for a means to utilise company-issued tokens. These can range from platform and service fees on a company’s ecosystem to a more varied role such as grocery purchases and other daily transactions.
Realising the need for this service, MoxyOne is developing a white-label service for any company that wishes to supply their users with a company-issued debit card and wallet system. White labelling allows companies to become partners and gives them access to the MoxyOne infrastructure. Companies will have great flexibility to change the components on the MoxyOne system to suit their individual needs.
In addition to their white label service, MoxyOne will also be providing their token holders (SPEND) with a debit card and wallet system to make real-world purchases. Users will be able to utilise the wallet and debit card to make everyday purchases, withdraw funds from any compatible ATM and make instant payments anywhere, anytime [even where cryptocurrencies are not accepted]. Cryptocurrencies will instantly and automatically convert to fiat at point of sale without any extra input required by the user.
Liquidity providers are a major component of the MoxyOne system. These individuals or companies provide equivalent fiat for the amount of purchase by a user. They will in return, receive the full token amount as well as an added percentage of tokens as fees. By being available in multiple countries, users will incur little or no foreign exchange fees in the countries that liquidity providers are available. Cryptocurrencies and fiat will be exchanged at the domestic exchange rate which is great for travelling users.
MoxyOne already has an exchange partnership with Cryptopia, meaning SPEND will be listed there as soon as the token sale ends. Other exchanges, both majors and pay-to-play, will be listed and announced in the near future. Additionally, they have secured a partnership with a decentralised social networking platform, “Social” (SCL). They will be the first white label partner to offer its token holders a “Social” instant access debit card to be used on its platform.
Raiden Network’s micropayments channel will be used for enhanced transaction speeds and Gladius’ DDoS protection and security will be used to secure the system. It has also been announced that the MoxyOne developers are finalising a prototype for its wallet system. It may be released prior to the token sale in early 2018.
The pre-sale will begin on 8th February 2018 at 01:00 GMT and ends on 10th March 2018 at 01:00 GMT. The main token sale event will run from 14th March 2018 at 01:00 GMT to 14th April 2018 at 01:00 GMT.
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