Banking-as-a-service cooperative network Moeda has relaunched MDA, its digital token.
The move is part of a strategy to widen Moeda’s appeal beyond female entrepreneurs. The plan also includes pegging the MDA’s value to the U.S. dollar instead of ETH, the Ethereum blockchain token.
Moeda will accept Bitcoin and fiat currency donations from those purchasing MDA. Bitcoin Suisse AG will assist. It holds nine million MDA, which will be allocated for pre-sales, advisors and bounties and held for future use. A maximum of 20 million MDA will eventually be issued.
Bitcoin Suisse hosts the onboarding of the private contribution phase beginning July 18. The public phase , where a maximum five million MDA will be available, runs July 28 – Aug. 28. One MDA will be worth one U.S. dollar’s worth of ETH. The USD/ETH exchange rate will be operated daily.
“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,” said Taynaah Reis, Moeda’s chief executive officer and chairwoman. “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,” the company said in a release.