ST. JOHN’S, Antigua, May 15, 2024 /PRNewswire/ — MNEE announced today the upcoming launch of the first USD-backed stablecoin designed to transform the landscape of digital transactions through its use of the highly-scalable BSV blockchain, which features unmatched speed, low fees, and the ability to power microtransactions.
Each MNEE token is redeemable for a value of $1.00 USD, fully collateralized by US T-bills, USD cash or stablecoin equivalents. MNEE is a licensed and regulated custodian and an issuer of digital assets in Antigua, ensuring full compliance and security in accordance with international standards. With rigorous AML/KYC compliance, risk management and treasury management, MNEE will be fully audited with an attestation of reserves, offering transparency and reliability to its users.
“Sitting at approximately $160 billion today, the stablecoin sector is projected to reach nearly $3 trillion by 2028, clearly demonstrating market desire for the instant processing and high security of stablecoin payments, coupled with the volatility-free stable valuations of fiat currencies,” said Savvas Rigas, CFO, MNEE. “With the launch of MNEE, we are proud to introduce the industry’s fastest and most scalable stablecoin to date, truly establishing MNEE as the currency for tomorrow.”
As the first stablecoin of its kind issued on the Tokenized protocol on BSV blockchain, and also available on the ERC-20 protocol, MNEE will launch in June 2024 on Handcash and RockWallet, with key features including:
- Unmatched Speed: Instant transactions with zero confirmations.
- High Scalability: Capable of handling more than 1 million transactions per second.
- Cost-Effectiveness: Transaction fees are as low as 1/10th of a cent on the BSV Tokenized protocol.
- Microtransaction Capability: MNEE can be divided to 1/1,000th of a cent ($0.00001), making it perfect for a wide range of microtransaction uses in online gaming, social media AI, IoT, API, subscription services, tipping, advertising and more.
MNEE’s versatility provides for powerful use cases in numerous essential digital finance activities including:
- Peer-to-peer payments for instantaneous customer transactions
- Remittances for instant and practically free cross-border money transfers
- Payment settlement for retail, business, physical assets, and commodities
- Web3 applications including online transactions, consumer applications and dApp integration
“Handcash has consistently been recognized as the most user-friendly platform for streaming money across apps, games and websites, thanks to our Web3 ecosystem of connected apps,” said Alex Agut, CEO and Co-Founder, Handcash. “We are thrilled to introduce MNEE to our community, thanks to its exceptional speed, stability and cutting-edge features that align perfectly with our commitment to enhancing user experience.”
“We are proud to facilitate the issuance of MNEE on BSV blockchain through our Tokenized platform, which has been designed to support a wide range of digital assets beyond traditional cryptocurrencies,” said James Belding, CEO and Co-Founder, Tokenized. “The launch of MNEE showcases our commitment to innovation and vision of improving the value proposition of stablecoins in a comprehensive, user-empowered financial ecosystem.”
MNEE will soon be available for minting by non-US institutional clients, exchanges, and OTC desks. Retail users, merchants, traders, and dApp developers can buy/swap MNEE through platforms including Handcash and RockWallet, as well as RockWallet PRO for advanced exchange trading. The expanding ecosystem of partners promises to further enhance the accessibility and utility of MNEE in the near future.
“We at Handcash aim to empower gamers and developers worldwide with the best platform for building fantastic economies,” Alex Agut added. “With MNEE we finally can use a USD stablecoin as the main currency for our platform, making it more familiar for everyone while retaining all the benefits of using a blockchain.”
For additional information, please visit https://www.mnee.xyz.
ABOUT MNEE:
Headquartered in Antigua, MNEE is a pioneering financial technology organization dedicated to innovating in global finance. As the issuer of the MNEE stablecoin, the company leverages the robust capabilities of BSV blockchain to provide a stable, secure, and scalable digital currency solution. Each MNEE token is backed by US Treasury bills and USD cash equivalents, ensuring full collateralization and compliance. With a commitment to creating the future of money, MNEE focuses on delivering instant, low-cost, and efficient payment solutions across numerous platforms and industries.
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SOURCE MNEE