May 13 · 2 min read

ChainEX partners with MenaPay for their first Initial Exchange Offering

ChainEX is excited to announce that there is only 1 day left conducting the Initial Exchange Offering (IEO) of MenaPay. We have received tremendous interest from users all around the world and we will list the MPay Token on our exchange after the IEO starting from the 1st of June 2019.

MenaPay is the first bank independent, Blockchain based mobile payment platform, of the Middle East and North Africa. MenaPay uses its own USD backed stable cryptocurrency in order to solve the fluctuation problem in crypto payment business.

The platform, which can be downloaded from Google Play and iStore, also offers Merchants & Resellers an additional income model for accepting and using the MenaPay application. End users can easily top up their mobile wallets from the approved MenaPay Reseller points. Most importantly, the application brings a solution to the MENA region’s biggest problem — the unbanked population. The region includes more than 18 countries with about 441 Million population with 84% being unbanked.

The main goal of MenaPay is to create a common cryptocurrency which increases in value, by pushing the digital transformation of the MENA region and eliminating the limits that the public can use for online and offline transactions. You don’t need to be ingenious to calculate the market value of a cryptocurrency when it reaches 10M users.

MenaPay will be distributing the majority of its revenue to fill its Green Mining reserve. 75% of revenue will be used to buy MPay tokens from the exchanges in order to feed its Green Mining pool and will be distributed between its investors.

Therefore, the interest in the region towards the MenaPay payment solutions has been massive, even while it has only been around 2 months since the app was launched. MenaPay already have more than 50,000 top-up points in order to make it very easy to digitalise the cash.

The last day of IEO is an opportunity for you to buy MPay tokens with 20% bonus and become a part of this huge project which is expected to boom.

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ChainEX, a digital currency platform where South African traders can buy, sell or trade almost 30 digital assets using ZAR as fiat currency.