At its core, Metal is an Ethereum based mobile device that promotes the adoption of common cryptocurrencies like Bitcoin and Ethereum through a special Proof of Payment protocol which is made possible by their Know Your Customer (KYC) policy which each user must adhere. What it does is simple. Because it’s available as a mobile app, banked, unbanked or even under banked people can easily and cheaply send or receive funds.
The MTL-an ERC20 token is what will be used to facilitate payments in this payment platform. Users who wish to transact on Metal can also link their debit or credit cards to this Metal platform and get discounts or MTL token rewards every time they transact in this merchant centric platform.
As a banking service, their accounts are FDIC insured and as a cryptocurrency system users can easily buy a variety of cryptocurrencies after linking their Metal account with their legally recognized, FDIC insured bank account.
Founders: Marshall Hayner Release Date: June 22, 2014
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