Moeda, a cooperative funded by Brazil-based Cresol, Green Cross Brazil and Unicafes, recently announced the launch of its eponymous Moeda token, a cryptocurrency that can be traded worldwide through apps on Apple and Android phones. The goal of the organization is to“creat[e] a banking-as-a-service cooperative financial network to connect disadvantaged entrepreneurs to modern financial systems,” including peer-to-peer loans.
The public sale of 5 million Moeda tokens began on August 31 and was completed in three days. Moeda tokens are pegged at the value of the US dollar.
Moeda has partnered with the Ethereum Foundation, a Swiss blockchain technology provider, to record transactions made through the platform.
Cresol is a lender to purchasers of vehicles and housing. Green Cross Brazil is a wing of Switzerland-based Green Cross International that seeks to alleviate poverty. Unicafes is a cooperative seeking to improve socio-economic conditions for people in Brazil.
By Jacob O’Driscoll, Research Associate
Sources and Additional Information
Blockchain to Accelerate Impact Investing Progress Globally
United Nations Sustainable Development Goals
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at: https://www.microcapital.org/products-page/.
- MICROCAPITAL BRIEF: UN’s World Food Programme Uses Ethereum Blockchain, Retina Scans to Support 10,000 Syrian Refugees
- MICROCAPITAL BRIEF: Everex Raises $17m in “Initial Coin Offering,” Anticipates Offering Mobile Remittances, Microcredit Using Blockchain Technology in 2018
- MICROCAPITAL BRIEF: UK-based Humaniq Harnesses Blockchain, Biometrics To Launch Mobile Money Service in Ghana, Asia, South America
- MICROCAPITAL BRIEF: Symbiotics Raises $18.5m for Georgia’s TBC Bank via MSME Bond Platform
- MICROCAPITAL BRIEF: Infoteria, Tech Bureau Transfer Myanmar-based BC Finance’s Microfinance Data to Private Blockchain