The Metal token (MTL) was created as an ERC-20 compliant token. MTL is a digital asset that is used in tandem with Metal Pay, a peer-to-peer payment processing application that is available in the Android and iOS app stores. Metal Pay created an app with an easy-to-use user interface that allows users to send and receive cryptocurrency without having to fully understand the underlying technology.
Metal Pay is aiming to facilitate mass adoption of cryptocurrency. To achieve this goal, MTL is rewarded to users of the Metal Pay app who convert fiat into digital assets. In February of 2020 Metal implemented mainnet deposits and withdrawals for the digital assets that are available on the Metal Pay mobile application.
The Metal team began the development of Metal Pay due to a perceived need for cryptocurrency applications to have less complex user interfaces. The team believes that this would be more useful and appealing to the masses and help to facilitate mainstream adoption.
Metal Pay Mission Statement:
“They say the world revolves around money. But what does money revolve around? We say it revolves around people, that our desires and experiences determine its value. Money is not the means to an end. It’s the means to a beginning. We believe in a better world, where money works for us and we don’t work for money. Where we work for beliefs, causes, and people. That’s what we do at Metal. Let’s change the way the world views money. It’s time for a better world. It’s time for Metal.”