MicroMoney distributes over 10 million tokens
MicroMoney Intl, the social lending blockchain firm with aim to help billions of the unbanked around the globe, has sold more than 10 million $AMM tokens during the first two weeks of its distribution campaign, which is currently running on MicroMoney.io.
MicroMoney reported 10,118,126 tokens distributed since $AMM token was first available to investors in October during the pre-distribution phase. In addition, the company has just raised the soft cap up to $10 million, which was initially set for $1 million. The hard cap for the campaign has been set at $30 million.
MicroMoney’s goal is to change the catch-22 reality for the unbanked, when billions of people cannot receive loans without having a bank account, credit history or financial records. MicroMoney is a thriving business in Myanmar, Cambodia, Thailand, Indonesia, and Sri Lanka, totalling 100,000 registered users and 40,000 loans so far this year.
Dubbed as the first Blockchain Credit Bureau, MicroMoney creates credit profiles using loan applicants’ mobile phone data and proprietary blockchain-based Decentralised A.I. Neural Network Scoring System. Once approved, loans go to borrowers’ e-wallet for disbursement.
MicroMoney plans to use attracted funds to further expand to Vietnam, Malaysia, Singapore and Nigeria and include over a million of previously unbanked customers into the global financial system.
“We have been running an amazing campaign on our site and would like to encourage everyone to join us on micromoney.io The activity of investors shows that they believe in our transparent blockchain business with goals to help eliminate poverty through financial inclusion,” said Anton Dzyatkovsky, MicroMoney Co-Founder.