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Making Bank Payments with Crypto using Metamouse

by
Metamouse
April 25, 2022
5
min read

Integral helps DAOs grow more efficiently and sustainably. As such, we often source tools and services that are essential to DAO operations and treasury management.

Funding has always one of the biggest challenges for DAOs. With Integral SIZE, DAOs can easily sell their governance tokens to fund operations without experiencing price impact.

In addition to eliminating price impact on large orders flows, SIZE offers DAOs a web3/DeFi native funding mechanism with on-chain OTC order execution.

Imagine the scenario of a DAO that needs to pay their AWS bill. To do so, a DAO would have to convert ETH into USDC, then to fiat on an exchange, then wire the money to a team member’s bank account, then ask them to complete the transfer. This practice leaves a loophole in fund security and is not compatible with the ethos and purpose of a DAO and its foundation of being transparent and trustless.

After weeks of research, we found Metamouse, a P2P solution for DAOs to pay bills. Here is an introductory post from their team detailing how it works and how you can incorporate it into the workflow of DAO treasury management.

As cryptocurrency gains acceptance, more and more people are getting their paychecks and other benefits in bitcoin, Ethereum and other digital currencies. Getting paid in crypto has its advantages for both employees and employers: transfers are efficient and cost-effective, an intermediary financial institution is eliminated, and it is an investment with growth potential. However, paying for goods and services gets complicated by the necessity for sending crypto to an exchange to convert it into your local currency and then withdrawing it to your bank. How great would it be to avoid the hassle of currency transfers? We thought the same! This is how Metamouse was created.

Metamouse and Individual Users

Metamouse works hard to make your life easier. The platform allows you to make any kind of payment in crypto without ever having to convert it, or even send it to an exchange. Let’s see how it works: Metamouse is a peer-to-peer payment service. You send the crypto to Metamouse along with the details of the invoice and the partners, who are the platform’s verified peers, pay the bill for you - just as good as it sounds.

The service helps you to pay for both small and great purchases such as utility bills, travelling, online shopping and much more. The whole thing typically is done within one business day. Fast, easy and no extra commission fees that are charged at each stage of the old exchanging procedure.

Metamouse and DAOs

We have discussed how Metamouse can help individuals, but its benefits to the DAOs are just as important. In old way DAO struggles to pay business expenses as well as pays the bills, using personal accounts of employees and cannot verify accounts on centralized exchanges. With help of Metamouse service, DAOs can avoid these difficulties and pay corporate expenses using cryptocurrency, having the opportunity to pay both small bills and large purchases. This can be both payment for hosting, team flights, organization of events and more. To make a payment with crypto just fill out the form in the Metamouse app, connect your wallet to the system or scan payment QR Code and confirm your payment. All ingenious is simple.

Security

We do not play cat and mouse with our customers! Metamouse is a project of altercap.com, licensed crypto exchange. Each verified payer holds collateral with Metamouse to participate in the network. Each payer can pay invoices up to his collateral level. If the bill is failed to be paid in 24h then the payer's rating is downgraded, and the invoice is passed to another payer. We also take full responsibility for refunds in case if for any reason the bill cannot be paid.

Metamouse’s Ambitions

Metamouse has big plans for the future! Those include supporting more fiat currencies and cryptocurrencies and also developing a crypto card, which will be an analogue of a bank card.

Let’s keep in touch!

For more information on how Metamousecan help you to pay your bills and needs with crypto, head over to the fabulous Metamouse website. To keep up to date with Metamouse’s latest news and updates follow the project on Twitter or say hi to the Metamouse community on Discord.

The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

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