Topic: Metal Pay is Launched. (Read 111 times)

Metal Pay has finally launched its alpha version of venmo type service Metal pay app in the United states. The difference between Venmo and Metal Pay is  you get paid MTL for using Metal pay to send and receive money. They have already partnered with major banks in the states such as chase and BOFA. You can either sell the MTL you earn or keep them. I have tried out the Alpha testing and the interface looks sweet. Since its still in alpha most of the info such as SSN, bank account numbers are all fake and pre-populated and you don't actually get MTL. Interest is super high for this project and it recently acquired out crumbs which is like acorns app. Crumbs allows you to use your spare change to buy crypto currencies. 

Where does Metal Pay get the money to pay people for sending and receiving money? From what I have read they are using the large investments they have received to pay people for using metal pay to send and receive money. Apart from that they are also banking on the fact that people either store MTL to sell at a higher rate or cash out constantly keeping MTL in circulation. Either way MTL will always be returned to Metal Pay. Which means there will possibly be no manipulation of MTL price unless a whale or super whale dumps a ton of MTL on some exchange. But what gets me excited is the prospect of free money for the same tasks we do everyday. If you got more info please add to the thread.