A CRYPTO token backed by peer-to-peer lender JustUs is now available to the general public.
Anyone with a Moneybrain cryptocurrency wallet can buy, store or exchange BiPS tokens, and send them anywhere in the world to other Moneybrain wallet holders.
It comes a year after a fundraising campaign for the crypto-token network launched a pre-sale for investors looking to sign up early.
Once investors have downloaded the Moneybrain app, they can top up their account by bank transfer or via Visa or Mastercard. Investors can also top up their other digital currency accounts with Bitcoin, Ethereum or Litecoin and exchange these in real time for BiPS.
When BiPS are acquired or exchanged the proceeds are converted to GBP and lent on the JustUs platform to qualifying borrowers.
The token uses blockchain technology to facilitate global payments and is underpinned by purchases of assets such as property and loans on the JustUs platform, which will help to maintain its value.
According to the project’s white paper, more than 85 per cent of the world’s population are deemed unbanked and have no access to any secured method of saving, borrowing or insurance.
BiPS aims to gives token-holders access to the world’s best asset classes and ultra-secure methods of currency exchange.
Read more: JustUs founder launches pre-paid crypto card