# Moxey Announces Significant Move into Crypto and Web3, to Expand on its over $250M in existing transactions | Moxey

- Canonical URL: https://wefunder.com/feed/154179
- Entity ID: wefunder:feed_item:154179
- Published at: 2022-04-05 16:03:28 UTC
- Updated at: 2025-07-09 03:21:46 UTC

## Author
Aimee Supp

## Subject
Moxey

## Content
Moxey Announces Significant Move into Crypto and Web3, to Expand on its over $250M in existing transactions. Moxey launches first ever stablecoin backed by dynamic reservesBATON ROUGE, LA - Today Moxey announced plans for two interconnected Web3/Crypto products - a stablecoin backed by dynamic reserves and a governance token that earns fees from the network.According to Charlie Davis, Moxey President and CEO, “Unlike most crypto startups, Moxey has a long history of managing digital currencies in the real world. The Moxey network has processed hundreds of thousands of transactions worth more than 250 million dollars. That’s a massive dataset that gives us a unique insight into managing and scaling digital currencies.”The new Moxey stablecoin is a Layer 2 solution that utilizes Moxey’s Proof-of-Value protocol and is the first ever stablecoin that is backed by dynamic reserves to maintain its purchasing parity with the US Dollar.The governance token will be distributed to all Moxey investors and will earn fees from the network and serve as a method for the owners to participate in the management of the network.According to Davis, “Together, these two interconnected products allow for a truly native digital currency to fulfill the Web3 vision of a currency with a stable price, low transaction fees, decentralized governance, and privacy.”Moxey has more than 4,000 US businesses across 16 cities utilizing its digital currency. The new products announced today will allow Web3/Crypto pioneers to utilize the Moxey currency inside of their projects.Moxey is current raising capital using Equity crowdfunding for its core business, more information here - https://wefunder.com/moxeyAbout Stablecoins: Stablecoins are a critical part of the Web3 ecosystem. They currently makeup approximately 10%, or 200 billion dollars of Crypto’s two trillion dollar market capitalization.What do you think about Web3 and how it will be used to change commerce? 👇👇Let us know in the comments 👇👇