In this Tekedia Capital investment cycle, we invested in Blaze which uses a stablecoin to enable moving money around. As Blaze uses stablecoin, another startup, @Moreta (https://moretapay.com/), approaches that from a different angle: use of phone and QR code, but with a specific focus on international travelers and nomads. Yes, Moreta simplifies payments for international travelers, letting you pay for anything using just your phone.
Indeed, say goodbye to the hassle of searching for the best cash exchange rates or ATMs on your next trip. With Moreta, paying local merchants is easy because Moreta makes you “local” on payment in anyplace you find yourself. They are starting in Southeast Asia!
In 2017, I posted a thesis on “building a pan-African digital remittance/transfer banking product which is agnostic of location or currency in Africa. None of the products we have today meets that standard. Largely, I envisage a situation where all you need to buy and sell across Africa is one bank account in just one African Union country.” Extend that to the world now.
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With that, you do not have to even think about the specific currency of that account as technology will seamlessly make it possible to access other global markets for payments, transfer, etc. The banks or fintech companies must still comply with all regulations related to international transfers, forex, etc. The only difference is that customers will not see them as they will be hidden with technology.
Bitcoin is moving past the domain of payment and as a medium to pay for value, as hodlers push it into an investable asset class where people will store and pile value. In other words, my thesis will not come from BTC, and we have to look for another nexus. With Moreta, there is an entry point as currencies convergence evolves at the technology layer, to reduce travel frictions, for travelers and nomads. Tekedia Capital (capital.tekedia.com) is happy to partner with Moreta.
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