The first quarter of 2018 is coming to an end, and we are happy to announce that our app Metal Pay is finished and ready to ship. Although regulations are dictating the pace of our rollout to individual states, we are working very closely with regulators to get a release version of Metal Pay in your hands as fast as we can. The licensing pace and procedure within the United States will not and is not impacting our plan to launch in select foreign markets; we’re working on this simultaneously.
Based on licensing timeframes, we think we can begin to bring the first batch of states online over the summer — and continue with the rest in the following months. As we work through the licensing process we are getting a better idea of the states we think are closest to getting the green light, but we will not be listing them at this time. This is because we are in a situation where setbacks outside of our control can and have happened, and we push forward regardless. You will be notified the moment that we have been granted approval to launch in a specific state or country if you sign up for email updates at our recently updated website, metalpay.com.
We know you are anxious to get your hands on our app, and we’ve found a way to do so with a testnet version of Metal Pay alpha. Version alpha will operate in a sandbox environment that will allow participants to test the app and features without transacting actual MTL or USD. We began the process of issuing NDAs to a small group of Metal community members, investors, and influencers for their participation in alpha about two weeks ago. Invites to download alpha were issued to the first batch of participants today. We will continue to send invitations to participate in alpha to members of our community through social media and community chat channels.
After we have completed the first few waves of invites to the closed alpha, we will announce our mainnet launch with real money and functioning PoPP (Proof-of-Processed-Payments). This mainnet launch version of Metal Pay will be called beta. Until we obtain the necessary license(s), we will operate in a closed beta that is usable by Metal team members and equity investors only. But don’t worry, the MTL distributed via PoPP during this closed beta will be extremely limited and come from our own private company pool of MTL. We will transition to an open beta that uses our public PoPP issuance pool once we launch in our first states, and we will keep this beta designation until the app is available in good number of states (more than 25).
We’ve made significant progress in the past few months and today marks an important step forward, both for Metal and for cryptocurrency in general. We’re now one step closer to bringing Metal Pay to the masses and introducing cryptocurrency to the world on a scale the likes of which have never been seen before. Stay tuned and be on the lookout for screenshots of Metal Pay from the first users of the closed alpha on social media!
CEO and Co-Founder