Moneta Tokenized Forex Exchange 

Moneta Exchange

After completion of the main initial coin offering will be announcing the launch of Moneta Tokenized Forex Exchange. Token owners and participants can trade currencies on Moneta digital platform.

The Moneta digital tokens, pegged 1 to 1 to country-specific currencies, to be called USDM, EURM, GBPM, JPYM, CHYM, CHFM, etc., are based on its own technology and chain. Pre ICO sales start on the 25th of January 2021.

“With Moneta, people will be given the opportunity to profit in the Moneta digital token market with a financial instrument that will reflect country specific fiat currencies,” D. Varzari, CEO Moneta Holdings.

How is forex currently traded?

Forex is currently traded on an over-the-counter network of traders, banks, brokers and market makers. It is this international web that helps to make forex a 24-hour market, with different trading sessions opening and closing simultaneously around the world.

However, there are some problems with the way that the forex market works. There is no single centralised body that oversees the regulation of the forex market. Forex transactions could benefit from increased transparency, because forex trading is not subject to the same level of scrutiny as on-exchange transactions.

Blockchain could change this, because each transaction would be visible to other users on the blockchain platform. While the precise timeframe for pairing blockchain and forex is unclear, research into the future of trading suggests that the use of blockchain will be widespread in the next 50 years. Our analysts also anticipate that the introduction of blockchain could well phase out the more traditional exchanges – as well as over-the-counter markets in the case of forex trading.

Transform the FX industry

Moneta blockchain technology will transform the FX industry by turning it into a peer-to-peer type of deal. In this new model, transactions can be handled not only by individuals or small start-ups but also by giants in the industry, banks, and other financial players. Essentially, through wider adoption of Moneta blockchain technology in Forex trading, the concept of intermediaries and brokers could soon disappear.

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