MNEE Introduces USD-Backed Stablecoin to the Global Market

MNEE is proud to introduce its USD-backed stablecoin to the global market, which will initially be available on the Ethereum blockchain using the ERC-20 token protocol.

Antigua-based financial technology firm MNEE has announced the launch of its USD-backed stablecoin, initially available on the Ethereum blockchain. The stablecoin, also known as MNEE, will be available on the ERC-20 token protocol. Following the launch on the Ethereum blockchain, the stablecoin will also be introduced on the BSV blockchain.

The MNEE token is designed to be pegged at a 1:1 ratio with the US dollar and is fully collateralized with US Treasury bills, cash, and stablecoin equivalents. The stablecoin is intended to provide a stable and reliable store of value, facilitating diverse use cases.

According to the announcement, each MNEE token will be redeemable for $1.00 USD. The company also plans to expand the stablecoin’s availability across multiple blockchain platforms, starting with the BSV blockchain.

“We are excited to add the MNEE stablecoin to the Ethereum blockchain. In addition to the BSV blockchain, we will be expanding the stablecoin’s accessibility across various blockchain platforms, starting with BSV,” stated Savvas Rigas, CFO of MNEE.

Licensed and regulated as a custodian and issuer of digital assets in Antigua, MNEE undergoes regular audits and provides attestation of reserves, ensuring full transparency for its users. The company’s stablecoin is also available for acquisition over-the-counter at prominent OTC platforms, including Enigma and FRNT Financial.

The MNEE stablecoin is positioned to cater to a broad spectrum of use cases, including peer-to-peer payments, cross-border remittances, payment settlements, and integration with Web3 applications. The stablecoin is designed to facilitate seamless and cost-effective transactions across multiple platforms and industries.

“We admire MNEE’s vision of developing a stablecoin specializing in micro-transaction and micro-fee use cases,” remarked Michael Halimi from Enigma. “We’re excited to see the stablecoin start on ERC-20 and evolve onto other blockchains, such as BSV, that support that micro-transaction model.”

Availability for Institutional and Retail Clients

The MNEE stablecoin is available for minting by non-US institutional clients, exchanges, and OTC desks. Meanwhile, retail users, merchants, traders, and dApp developers can purchase, sell, and exchange MNEE through platforms including RockWallet. Institutional customers can access the stablecoin via OTC platforms such as Enigma and FRNT Financial.

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