June 13, 2018
MetaliCoin launches new METL Coin
New Coin and Wallet
MetaliCoin today announces the release of its new coin network and coin, METL. This is an upgrade and fork from the MTC coin that has been in circulation since our seed round funding launch in January, 2018.
A newly developed wallet which features enhanced security updates will be released soon and owners of MTC will receive an amount of METL equal to the number of MTC. The new wallet will be available to existing MTC holders once they have completed the KYC (Know Your Customer) process currently underway.
MTC holders who have purchased their MTC in a peer to peer private sale, will also be issued the new wallet and coins once they inform MetaliCoin of their wallet address. The new wallet will be released by the end of June, 2018 and information will be sent out via private communications and social media.
Preparing for Regulation
The launch of the new METL coin marks a shift in focus for MetaliCoin towards regulated markets and full regulatory compliance. A number of exciting developments are in the pipeline and MetaliCoin is taking all reasonable steps to ensure that it is able to meet the substantial market opportunities which are emerging in registered security tokens and tokenised exchanges.
This shift in orientation means that MetaliCoin’s strategic outlook differs from that of its Chinese partners ShellPay. These are fundamental differences in long-term vision and business values. As such, MetaliCoin has now ended the partnership with ShellPay. The issue of the new METL coin is part of the process of reorienting MetaliCoin’s strategic direction and raising awareness of our updated regulatory and strategic focus as it moves towards a fully compliant public token sale event later in 2018.