Fintech, ICO

MicroMoney – The Decentralized Credit Bureau & Microlending Platform For The Unbanked And Underbanked

micromoney ico microlending platform

MicroMoney is an open source platform with an aim to connect every unbanked individual in the world with trusted lenders and other financial service providers.

The platform was first launched in 2015 and currently serves customers in 5 countries.

In September 2017, the company announced its plans to raise $30 million through an ICO in October. With their crowdsale, they’re seeking to continue expanding across Southeast Asia.

The platform aims to solve those problems by connecting users with loans and financing in as little as 15 minutes, powered by the platform’s AMM tokens.

How do they achieve this?

We’ll cover that in today’s article.

What is MicroMoney?

micromoney logoDespite the world’s rapid growth, there are approximately two billion people on Earth who are unbanked.

What this means is that these unfortunate individuals do not have access traditional banking services, which indirectly limits their access to credit services and other financial products.

To make matters worse, there are also over a billion individuals who are considered underbanked–people who do have access to financial services but are underserved greatly.

Even if these individuals were to gain more access to banking services, they never have the chance to build proper credit which means access to loans and financing are optimistic, to say the least.

That’s what MicroMoney is trying to solve.

MicroMoney wants to help the underserved and underbanked to have greater access to financial services as well as helping to build their first credit history on the blockchain.

MicroMoney is a decentralized platform built on the blockchain to disrupt the big boys of the financial industry who’re already in power for far too long.

The platform aims to connect customers to financial businesses and institutions including banks, microfinancing providers, insurance companies, e-commerce stores, and many more.

As mentioned earlier, MicroMoney provides a credit system with the help of innovative technologies to determine a person’s credit level by using an advanced neural scoring system.

In just over 15 minutes, a MicroMoney user can directly request and receive a loan all from the comfort of his or her smartphone!

With that being said, it is fair to say that MicroMoney is a revolutionary lending app in a nutshell.

Unlike other startups in the same vertical, the MicroMoney app has already existed since 2015, helping customers throughout Southeast Asia access credit in an easier way more efficiently.

The ambitious project is led by an equally skilled team with Anton Dzyatkovskii, CEO of the company who is also the lending director of Everest (, leading the helm.

Anton has over 15 years of experience in the fintech industry and Asian markets, with previous experiences serving respectable positions in Singapore and other SEA countries.

Some of the countries already being served MicroMoney’s platform include Cambodia, Myanmar, and Thailand with future plans to launch in Indonesia, Sri Lanka, and the Philippines soon after the token sale.

Being over 200 employees strong, countries such as Hong Kong, Vietnam, China, Malaysia, and Singapore are also targeted by MicroMoney as the platform heads towards mass adoption in the Asian region.

Features of the MicroMoney platform

A globally connected platform

MicroMoney is already an established business in 5 countries, with more countries scheduled to be added soon. The company aims to expand to over 100 countries in the next few years.

Powered by the blockchain

MicroMoney has your credit history on the blockchain. It’s transparent, auditable, and administered by cryptographically verifiable code.

Providing financial services to the underserved and unbanked

The platform will help facilitate the addition of over 2 billion people to the market as it provides much needed access to financial services for the underbanked and unbanked.

A fully open source project

MicroMoney’s software and platform are open source which guarantees 100% transparency to users–something that is severely lacking in today’s financial organizations

Utilizes the power of smart contracts

Unlike banks or other money lenders, MicroMoney doesn’t rely on third parties or mediators to complete transactions.

With smart contracts on the Ethereum blockchain, the platform deals directly with the end user which keeps costs low and makes transactions faster than ever before.

The MicroMoney token sale

The MicroMoney token sale will be done for the launch of the AMM token, the platform’s official cryptocurrency.

AMM token holders enjoy the benefits of having access to premium, advanced features on the platform which include instant loan applications as well as approval on demand.

The more AMM you hold, the better your credit rating is in the platform.

Any individual or small business in the MicroMoney platform will also be awarded an AMM token after each loan is paid back.

Borrowers who pay their loans on time are rewarded with AMM bonuses but the opposite happens if they fail to pay their loans before the due date.

At the end of the day, AMM will be mostly used as collateral to secure loans through the platform.

Here are the details of the upcoming AMM token sale:

Token name: AMM

Token base: Ethereum (ERC-20 compliant)

Token supply: 60,000,000

Token sale duration: 17th of October, 2017 – 17th of November, 2017

Token sale target: $30,000,000 (hard cap)

Token exchange rate: 1 AMM = $1 USD

MicroMoney’s Website

MicroMoney’s Whitepaper