Moolah, one of the fastest expanding cryptocurrency service providers, is making it’s second offering of public investment.
While the first round raised 250 BTC offering a 15% stake, this second round is raising 250 BTC again, but for a 5% stake. This will be the final public investment offered by Moolah.
Why does Moolah need this injection of capital? The company’s blog states:
In order to “explode” in terms of growth, we need a few things. We need liquidity in order to provide our Coinbase style service (which is ready to go -now-), to do a number of marketing campaigns, and to also provide an additional buffer zone for the launch of Digipay (which is ready to go) and the rebuilt Treats with new… buy anything technology and 24/7 support!
While it seems risky to undertake so many ventures at the same time, Moolah insists that growth at the company “far surpasses anything we had originally predicted, and our service expansion has happened far ahead of schedule.” Nevertheless, the company’s founder reaffirms that is a risky investment, and like all investments, no person should put in more than they can afford to lose.
One explanation for this growth, in addition to the superior design of Moolah’s services, is the company’s activity in the Dogecoin community.
Moolah recognized the need for DOGE merchant options early, providing an easy merchant solution with active customer support. The effort paid off, apparently;
Despite our API being the core platform, it is actually our storefront technology that has grown the most. I did not expect there to be such uptake, but to give you an idea, storefronts have processed over 150M DOGE alone since launch – not accounting for other coins.
Of course, payment processing is only one facet of Moolah’s service.
Prelude is the latest service launched by Moolah, an exchange providing 14 different ALT/BTC markets, with fiat markets coming this week. Prelude is fast – very fast – and simple. Looking at the centered, minimalist face of Prelude is like zen meditation when compared to BTC-e’s AOL-inspired interface.
Moolah has this to say about Prelude’s legal compliance:
We’re working on legal compliance (rather aggressively, I must say), we don’t intend to be caught out by anything. We’re registered in a number of countries, and are pursuing action with FinCEN, HMRC and FINMA currently.
Prelude also requires that the customer provide a government issued photo ID, and proof of address in order to use any fiat services.
The major downside to Prelude at this point is what many exchanges suffer from, a lack of volume. If Moolah can prove itself to be a truly secure exchange despite the countless “hacks” other exchanges have suffered from, Moolah and Prelude should have sufficient volume in no time.
As you may have caught in my first quote from the Moolah blog, the company sees itself as an up-and-coming challenge to Coinbase, the current leader in Bitcoin merchant processing.
“We intend to be the de facto digital bank,” states Moolah’s blog, and their main success thus far has been in processing alt-coin payments such as Dogecoin.
The initial success of Moolah may be a sneak preview of how the free market will shape crypto-currency in the future. With so many groups and individuals releasing “improved” protocols, the biggest winners will be the service providers that prove to be the most nimble and flexible.
In the fast-expanding cryptocurrency world, there is no time to rest on your laurels, and Moolah has demonstrated that they understand that.
Last modified: October 29, 2019 04:42 UTC