Youngest cryptomillionaire Eric Finman launches Libra rival

Erik Finman, the youngest bitcoin millionaire, co-founded the startup Metallicus, whom he called the “Libra killer.”

Finman invested an unnamed amount in the Metal Pay payment application. According to startup CEO Marshall Hayner, he, together with Finman, plans to create the first all-in-one platform for cryptocurrency banking. The platform will include a cryptocurrency exchange with access to 17 assets, a digital bank and a payment application with social functions.

Note that the Metal Pay application was launched last September and processed payments of $ 11 million. The number of users exceeded 130,000 people, and the application is available in 38 US states. The monthly volume of transfers is about $ 1 million in cryptocurrencies and fiat funds.

According to Eric Finman, he plans to invest his entire fortune in bitcoins, which is more than 400 BTC, in the development of the platform.

“I changed my point of view on cryptocurrencies a bit when I discovered that the Bitcoin community is very fragmented and its use in real life is minimal,” Finman said.

The startup has entered into a partnership with the bank and the trust company Evolve. It will allow the company to offer customers deposit accounts insured by the US Federal Deposit Insurance Corporation (FDIC). With the development of the Evolve platform, Metal Pay will help to create new financial instruments and services.

“Bitcoin has problems, but in the same sense as the first Ford Model T conveyor car. The concept of the car itself continued to evolve. We plan to develop the concept of cryptocurrencies, ”said Heiner.

At the beginning of the summer, Eric Finman expressed the opinion that the first cryptocurrency could well be “reborn” and return to $ 20,000.