Expansion to China, US

MicroMoney Intl., a market pioneer blockchain credit bureau and a social lender helping millions of unbanked get their first loan in Asia, has announced the expansion of its token distribution campaign to two major markets — China and the United States. The announcement is likely to give a fresh boost to the MicroMoney campaign, which has generated close to $8 million to date. “We are delighted to expand to new regions with our campaign as it will provide more opportunities to new investors to benefit from our business model. We believe that our policy of socially conscious lending has no boundaries or borders,” said Sai Hnin Aung, MicroMoney COO and co-founder. “We hope to invest these raised funds into developing a worldwide network of blockchain based credit business and help serve the 2 billion of unbanked people around the world.” With China dubbed “the undoubted center of global FinTech innovation and adoption” by Ernst & Young, there is an increased interest in promising startups from the country’s army of investors. The entrepreneurs in China have shifted attention to foreign ICOs after a ban for local start-ups to raise crypto-currency was announced in September. The ban did not prohibit Chinese to invest in various entities that originate in other parts of the world. And with China hosting major crypto-currency forums, such as the Global Blockchain Summit, the perspectives for MicroMoney are even brighter. In the U.S., the company has complied with all required regulations to allow investing into MicroMoney tokens, which are available for immediate purchase. MicroMoney’s AMM token pre-distribution campaign generated over $5 million. The actual token distribution began on October 18 and is aiming to distribute between $15 million and $30 million (hard cap) worth of swaps.