What Is Public Mint (MINT)?

What Is Public Mint (MINT)? Complete Guide Review About Public Mint.

What Is Public Mint (MINT)?

Public Mint bridges the worlds of traditional fiat with the innovative world of crypto, offering a complete platform for synthetic fiat, regulated and fully collateralized with funds held at FDIC-insured institutions. It includes a fiat-native blockchain, APIs  and an embeddable web widget, open for anyone to build fiat-enabled applications and accept credit cards, ACH, wire transfers and more. No bank accounts needed. After 2 years in development, Public Mint launched to the public in July 2020.

It is now launching the MINT Global Earn program, bringing direct fiat liquidity to CeFi and DeFi, and exposing the opportunities they provide to the world at large, by creating earnings-bearing synthetic fiat currencies. The MINT utility token is central to these efforts, and will be used to govern allocation of funds and the whole protocol, and reward participants for their votes. This trend is bringing traditional companies one step closer to the crypto economy.

Public Mint Storage Key Points

Coin BasicInformation
Coin NamePublic Mint
Short NameMINT
Circulating Supply95,889,529.51 MINT
Total Supply250,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Official Project WebsiteClick Here To Visit Project Website

The Future is Stable

Cryptocurrencies have moved from being a cypher punk pipe dream to become a global reality. Breakthrough technology initiated by Bitcoin back in 2008 and subsequent innovative platforms, coupled with growing adoption has brought us ever closer to the promise of a decentralized, border less, censorship-resistant, and useful digital form of money. Individuals from across the globe are reaping the benefits of blockchain today. On the business side, cryptocurrencies have spawned a thriving and profitable industry, opening up unthinkable new roads which they are only just beginning to explore.

Public Mint Volatility, one of the biggest problems of crypto assets, is in the process of being solved. Thanks to the advance of stable coins, crypto-native companies can already operate with more certainty within the space, countering some of the volatility of native crypto assets – although with limited reach outside of the crypto-savvy community. This evolution is making it ever more attractive for traditional companies to bring their business into the block-chain, even if there are still problems to be solved apart from monetary stability. According to a 2020 report from PWC, the global blockchain’s economic impact around the world is expected to be around $1.7Trn by 2030.

Pragmatic Approach

Public Mint recognizes that by its very nature, your fiat-based economy will always be subject to regulation by authorities, and there are inescapable centralized components. This is how Public Mint world works, and this is the world work on. However, they also believe that decentralization is a spectrum, and various aspects can be greatly improved from being less centralized, primarily in terms of governance and making decisions that affect a community of people.

Public Mint’s platform is already live with US Dollar (USD) and is fully-collateralized with funds held at FDIC-insured institutions. This will soon be followed closely by the Euro (EUR) and British Pound (GBP) in early 2021. Public Mint will continue to add new currencies, widening Public Mint’s reach with an increasing range of on ramp and off ramp fiat options for international adoption.

Enter Public Mint

Public Mint is a platform for synthetic fiat, fully-collateralized with funds held at FDIC-insured institutions. It has been live since July 2020 with unique features that bridge the gap between the crypto and fiat realms. The Public Mint network brings fiat to the blockchain and integrates crypto into the global economic system of today. It does so in a secure, scalable, and efficient way, in full compliance with regulations, creating the ideal platform for businesses to thrive without the uncertainty that comes from the volatility of crypto assets. 

Public Mint goes beyond solving just issues with volatility. They understand that enterprises also need business solutions that have so far been hard to replicate on-chain, and on which the economy runs today. Public Mint addresses several other pain points for crypto businesses to operate outside of the blockchain, and enables easy access for traditional businesses to access the blockchain space.

Fiat-native Blockchain

Fiat is native to the Public Mint blockchain and network fees are paid in fiat. This greatly improves usability by allowing users to immediately interact with the blockchain without having to acquire additional crypto assets. There is no price uncertainty from the fluctuation of underlying assets, or skyrocketing gas costs due to network congestion. Fees are stable and transparent so users can anticipate their costs well in advance.

User Friendly Key Storage

One of the biggest impediments for adoption of decentralized solutions is the aspect of key-management. Having to manage your own keys creates a barrier of entry that most users are incapable or unwilling to overcome, but without which there is no decentralization. Public Mint address this problem in a simple way they provide users with the ability to store an encrypted copy of their key in their cloud provider of choice.

Direct Fiat Access

Currently accepted are wire transfers (both US and international) as well as direct US ACH from users bank accounts. Public Mint will soon also offer debit/credit card support in the US, Europe and several other countries. They will also support USDC, allowing for easy connection and seamless interaction with other blockchains and blockchain platforms.

Mint’s custodial structure is open to any banks and regulated as such as well as other compliant financial institutions (e.g. Trust companies). Having multiple custodians adds robustness to the network and guarantees no single point of failure. This structure also makes the system much more scalable and able to expand into many geographies and currencies.