METL Collaborates with Prime Trust to Become the First Decentralized Fiat Gateway infrastructure in the US on Avalanche blockchain

METL is introducing the first decentralized fiat gateway infrastructure of its kind bridging Web 2 to Web3 in collaboration with Prime Trust and Avalanche. METL’s roots date back to 2018 when the first MVP was built, to demonstrate to the US banks, how quickly you can settle an ACH transaction with a token on the blockchain.

The METL Token USDR (USD Receipt) is the first decentralized native token on Avalanche due to its EVM compatibility, cost-effective transactions, and innovative consensus algorithm.

We recognized the growing need in the ACH industry for more advanced technology to settle transactions and move into the digital world more efficiently. We have developed a solution that marries the ACH world to Web3, where an ERC20 token is configured to be used as a utility before it enters the DEFI world.

Our solution is backed by Prime Trust, an all-in-one financial infrastructure provider powering the world’s leading crypto and fin-tech innovators. With the METL solution users are the issuers of tokens, sending ACH to a Bank through Prime Trust’s API integration. Prime Trust works with Cross River bank to provide custody services for USD. Based on METL proprietary API, METL then mints a stable token receipt on the Avalanche blockchain and sends it to any web3 wallet such as MetaMask.

METL can operate in every state except NY through exemptions of MTL licensing.

“METL is doing something truly unique with its patented Infrastructure for FIAT gateway in the US, creating the first Bank to Web3 decentralized access,” said Daniel Berman, Director, Institutional Sales, Prime Trust. “As the leading backend infrastructure provider for FinTech, Prime Trust empowers innovators such as METL via a comprehensive API-driven ecosystem.”

To access our platform, users need a USDR (USD Receipt) token which is stable and backed1:1 by deposits in our bank account to be fully collateralized. The METL team is currently building a node operator network to decentralize the management of the USDR (USD Receipt) token to incentivize the node operators.

METL is onboarding projects who want to build their own fiat gateway in US. Please fill out this form.

About METL

METL is a patented infrastructure for FIAT gateway, ACH settlement in ERC20 token to connect US bank to Web3. We are on-boarding the next generation of users from the world of traditional finance into the wonderland of digital currency. In 2018, METL was created with the single goal to bridge the gap between FIAT currency and its limitations while also bringing in and educating the next generation of users to the decentralized financial systems.

Your USD funds from your bank can enter the Metaverse easily with METL, so you can be a part of the more efficient, zero boundary financial system of DeFi. To make sure your funds are secure, every user must go through a KYC process required by US regulatory authorities. We welcome all US bank account holders ready to make smart money. For more information, visit https://metl.co/

About Prime Trust

Prime Trust is the one-stop shop for financial infrastructure for fintech and digital asset innovators. Our API platform and plug-and-play widgets allow companies to build seamlessly, launch quickly, and scale securely. Prime Trust powers mission-critical infrastructure for many of the world’s leading crypto exchanges, lending platforms, digital wallets, payment platforms, ATS’s, RIAs, wealth management platforms, broker-dealers, and crowdfunding platforms.

Prime Trust’s team has extensive regulatory and financial services backgrounds from the OCC, SEC, Federal Reserve, US Department of Justice, US Treasury/Secret Service,, JPMorgan Chase, Green Dot, American Express, PNC, Bank of America, and Visa. For more information, visit www.primetrust.com.

About Avalanche

Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. Avalanche is blazingly fast, low cost, and eco-friendly. Any smart contract-enabled application can outperform its competition by deploying on Avalanche. Don’t believe it? Try an app on Avalanche today. https://www.avax.network/

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