The firms cryptocurrency payment app, Metal, has unveiled its finished version, which is anticipated to outperform Facebook’s Libra.
Erik Finman, co-founder of Metal, along with co-founder of QuickCoin, Marshall Hayner, has affirmed users that they can now remit and receive numerous cryptos.
Metal operates as a P2P payment app and now backs several tokens including Bitcoin (BTC) and Ether (ETH). Earlier on, the only payment mode backed by the app was its native crypto i.e., Metal (MTL).
Finman, who became popular on becoming the world’s youngest Bitcoin millionaire, explained as follows:
“We’re going to finally bring crypto to the People — in ways that Facebook Libra only wishes they could.”
Finman further stated that the product offering has the ability to push back Libra, a stablecoin intended to be launched by social media platform provider Facebook.
Libra project is already facing several regulatory issues across the globe. However, Facebook continues to make efforts in making the project a success.
Today @MarshallHayner & I are launching Metal Pay to the masses.
We’re going to finally bring crypto to the People – in ways that Facebook Libra only wishes they could.
This. Is. The. Libra. Killer. https://t.co/yNSSNsWEsr
— ERIK FINMAN (@erikfinman) August 19, 2019
Libra is backed by big names in finance, including MasterCard and PayPal, with each agreeing to pay $10 million for partaking in the project. Notably, cryptocurrency exchange Binance is planning to launch Venus, another crypto based stablecoin project intended to compete with Libra.
Metal’s launch has come a month after it entered into collaboration with crypto focused social network Steemit. Metal permitted Steemit to add content to its app, in addition to the crypto token Steem (STEEM).
The team behind Steemit wrote as follows:
“We also allowed Steem to take over the Discover section in the Metal Pay app — a first for us — where we linked to tons of interesting content to familiarize our users with the Steem blockchain and its publishing platform, Steemit.”