Monetha, has announced a strategic partnership deal with the leading food delivery company in Central Europe. Foodout Group with operations spread across Ukraine, Belarus, Iran, Latvia, Lithuania, and Estonia have agreed to adopt Monetha as their main cryptocurrency payment solution.
The deal is the first to have been announced following the Monetha token listing on CoinMarketCap.com earlier this week, and will enable hungry Foodout customers to purchase food they enjoy from restaurants they love, using Ethereum based tokens.
Through the strategic partnership, Foodout group have agreed for the Monetha integration to be rolled out across their application, following the final development of Monetha’s Milestone 01 – due for completion in early 2018. The roll-out includes the Ukraine, Belarus, Iran, Latvia, Lithuania, and Estonia markets, where Foodout have quickly become market leaders taking over $30m in food orders each year. Interestingly, the somewhat unstable political situation of these regions has had a direct impact on the rise in popularity of cryptocurrencies, and Foodout will become the first food delivery company catering to this need.
Co-founder/Product lead of Monetha, Laurynas Jokubaitis commented:
“We are thrilled to be adding a wider diversity of merchants to our user base. Different industries provide specific insights for development which will contribute to the overall development of the Monetha product. Given the size and the originality of the Foodout Group, Monetha is excited to be expanding into new markets such as Iran, Belarus and Ukraine – all of which we anticipate high demand for the product”.
Together with a hand-picked, passionate team Foodout Group have truly catapulted the business to where it is today. The growing team have been enabling restaurant partners in multiple countries across Central Europe to reach more customers, grow their sales and expand their reach. The Foodout App has been awarded for being one of the highest rated app’s in the region, and the customer-centric company culture of the group make Foodout a well suited strategic partner for Monetha.
This year, the consolidated turnover forecast for Foodout Group food orders exceeds is 30 million US dollars.
CEO of Foodout Group, Tomas Martunas commented:
“We were getting many customer queries every month for us to start accepting ether & crypto payments. Especially in countries where local currencies are not so stable – Belarus, Ukraine and Iran. Monetha in our opinion has the best solution for merchants in the market today. With this deal Foodout Group will be able grow even faster by unlocking all the customers who were willing but unable to pay with cryptos..”
Monetha.io is a decentralized payment and trust solution on the Ethereum blockchain. Through the use of smart contract technology payments are secured over a revolutionary trust system that analyzes the reputation of all parties, assigning an algorithmic trust rating to each party. By leveraging Ethereum blockchain technology, “Monetha” empowers merchants with a single step transaction that’s 5x cheaper and up to 10,000x faster than traditional alternatives.