Monetas Has Made Financial Inclusion It’s Noble Mission!

Monetas: Introduction

monetas introduction

Fintech has revolutionized finance around the world in countless ways. But one of the places where it has had a seriously positive impact is the millions of people who would otherwise be unbanked in developing countries. 

It’s estimated that the global population of unbanked people has recently exceeded 1 billion. Thanks to Fintech companies, this number is rapidly decreasing. One particular company placing a considerable focus upon the unbanked in that of Monetas.

Based in the Swiss town of Zug, which has been nicknamed Crypto Valley, Monetas is a global transaction platform with the unique ability to carry out an enormous range of financial transactions in a secure, private, and instant manner. 

Monetas has successfully combined a wide range of highly advanced asymmetric encryption to achieve its goals. This technology is traditionally used in diplomatic communication between different financial technologies. 

When all of this is combined, Monetas successfully creates a digital contracting technology that allows its users to transfer ownership of any asset they desire electronically.

Monetas: The Launching

monetas launching

Upon its launch, Monetas placed its focus on contracts surrounding fiat currency. After quickly forming partnerships with a wide range of commercial banks, Monetas provided its new partners with the ability to issue national currencies on its platform while simultaneously helping them move into a new business realm.

One of the places that Monetas saw enormous success in the early days was Africa. When it comes to traditional banks on the continent, billions of Africans face the prospect of being left unbanked due to the high costs and fees associated with physical banks in their countries. 

Monetas saw an opportunity to provide banking opportunities to such people across Africa. They were also fully aware that 650 people across Africa own mobile phones. A statistic surpasses the number of mobile phone users in Europe and the United States.

Monetas released local financial software that local banks could use across Africa. By utilizing the technology of Monetas, said banks were able to massively lower their costs, remove entry barriers, and gain access to a customer base of over a billion Africans that were formerly excluded.

Monetas: The Game Changer

monetas gamechanger

The gamechanger in Monetas’ technology was that its users didn’t need to own a bank account. Instead, they would store their funds on a digital mobile wallet. This increased financial security for many, but it also lowered operating costs enormously. With the push of a button, billions of formerly unbanked people now had access to send finances around the globe instantly.

Monetas has made it its mission to spread financial inclusion for countless people worldwide, a leapfrog technology that doesn’t require physical business premises or infrastructure. Its users do not need to invest in expensive technology, and its merchants don’t need to worry about hiring out expensive ATMs. Monetas has everything covered. As a result, it is often viewed as the embodiment of a Fintech company. 

After laying solid foundations for its technology, Monetas is expanding rapidly. It has recently signed a range of deals and partnerships that would see its technology introduced to twelve new countries across the African continent. These new deals would witness over 300 million people gain access to its revolutionary financial services.

And, of course, it’s not just Africa where Monetas is being noticed. In 2015, this cutting-edge and fast-moving Fintech company won the annual Swisscom Startup Challenge. A year later, Monetas was included amongst the elite list of Europe’s 50 hottest fintech companies at the annual Money 20/20 event as well as in our Fintech50 2016 list part 2.

The global investor community is also heavily behind Monetas and its game-changer technology. This Fintech startup has successfully raised over $750,0000 in funds from investors in over 30 different countries worldwide. It’s clear that Monetas has found a strong position for itself in the world of Fintech.