MICROCAPITAL BRIEF: Moeda Introducing Cryptocurrency Aimed at Facilitating Financial Inclusion after $5m “Initial Coin Offering”

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
http://www.prnewswire.com/news-releases/blockchain-to-accelerate-impact-investing-progress-globally-300501661.html

UN’s WFP Uses Ethereum in Syria
https://www.microcapital.org/microcapital-brief-uns-world-food-programme-uses-ethereum-blockchain-retina-scans-support-10000-syrian-refugees/

Moeda
https://moeda.in/

United Nations Sustainable Development Goals
https://sustainabledevelopment.un.org/

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