MCA Vets Launch Funding Crypto Token
With years of funding experience, a duo is creating an MCA cryptocurrency called Seed Token to build better payment collections and take part in what they call the future of financial transactions.
“We started with the notion of using smart contracts and algorithms and blockchain to quicken the collection process,” the projects VP and COO Christopher Clark said. “Achieving a real-time payment technology similar to Cash App or, Venmo and Zelle, utilizing that same process you know with smart contracts and the blockchain to provide a better collection process to get away from the traditional ACH payments that so many of them utilize.”
Seed Token aims to solve the problem that high-risk merchant funding transactions sometimes encounter. To combat the issue of ACH rejects, the Seed team is building instant blockchain-backed payments.
The token went live on May 28th, on a decentralized exchange called Pancake Swap on the Binance blockchain that allows anyone to create a token. The creators attest it is a proof of concept to run crypto-cash advances. Eventually, Clark and the founder and CEO Christian Estevez plan on building their own blockchain that funders, investors, and merchants, can use to pay, fund and stake their holdings to syndicate deals.Last modified: June 2, 2021
Kevin Travers was a Reporter at deBanked.