Metal (MTL) Price Today & Live Chart

What is Metal?

Metal (MTL) is a blockchain-based payments platform that rewards users with cryptocurrency for spending, sending, and receiving money. The project was founded in 2016 by Marshall Hayner and Glenn Mariën, two entrepreneurs with backgrounds in digital payments and cryptocurrency. Hayner previously worked on early Bitcoin payment initiatives and co-founded Trees of Knowledge, while Mariën brought technical experience from building consumer finance applications. Together they set out to bridge the gap between traditional banking and the digital asset economy through the flagship Metal Pay mobile application. The MTL token launched in 2017 following a token generation event that raised significant capital during the ICO boom, positioning Metal among the early wave of crypto-payment hybrids competing with the likes of Abra and Circle. Metal Pay became available to U.S. users as a licensed money transmitter, allowing peer-to-peer transfers with rewards paid out in MTL for qualifying transactions. The app integrates fiat-to-crypto and crypto-to-fiat conversion, letting users buy, sell, and trade a curated list of digital assets directly from a linked bank account. Metal's signature innovation is Proof-of-Processed Payments (PoPP), a mechanism that distributes MTL rewards to users who transact through the network, effectively using spending activity as a distribution channel rather than mining or staking. In 2019 the team introduced Metallicus, a parent entity that expanded the scope of the project beyond consumer payments into enterprise blockchain infrastructure. Metallicus later launched Proton Chain (now XPR Network), a separate layer-1 blockchain focused on regulated payments and identity, which attracted attention for its KYC-enabled architecture and partnerships with payment processors. This pivot created some ambiguity in the market about the long-term role of MTL versus XPR, with Metal Pay continuing to operate as the consumer-facing product while Metallicus pursued institutional clients. Notable milestones include MTL's listings on major exchanges such as Binance, Bittrex, and Upbit, which gave the token broad international liquidity despite Metal Pay's regional U.S. focus. The project has faced challenges typical of crypto-payment firms, including evolving regulatory requirements around money transmission, competition from larger fintech players like PayPal and Cash App adding crypto features, and the general market volatility affecting adoption of crypto-linked cards and apps. Controversies have occasionally surrounded marketing claims during the 2017-2018 period and the complexity of communicating how PoPP rewards are funded and sustained. The current state of the ecosystem reflects a project in transition: Metal Pay continues to serve existing customers in supported U.S. states, MTL remains actively traded on global exchanges, and Metallicus has shifted substantial developer resources toward Proton/XPR Network and banking-grade blockchain services. For holders, MTL functions primarily as a liquid, tradable asset with historical ties to payment rewards, while the broader Metallicus brand has moved upmarket toward compliant infrastructure. Anyone evaluating Metal today should consider both the consumer app's ongoing operations and the parent company's strategic emphasis on enterprise rails, since these two narratives drive different kinds of demand for the token and the ecosystem as a whole.

Key Features of Metal

• Proof-of-Processed Payments: PoPP is Metal's proprietary reward mechanism that distributes MTL tokens to users for completing qualifying payments through Metal Pay. Unlike mining or staking, it ties token distribution directly to real economic activity, creating an incentive structure designed to drive adoption of the app.
• Integrated Fiat Gateway: Metal Pay connects directly to U.S. bank accounts, allowing users to move between dollars and a curated list of cryptocurrencies without leaving the app. This removes the friction of using separate on-ramps and off-ramps, making crypto more approachable for mainstream users.
• Consumer Payments App: The Metal Pay mobile application supports peer-to-peer transfers, crypto trading, and instant settlement between users. Its interface is designed to feel familiar to anyone who has used Venmo or Cash App, lowering the learning curve for first-time crypto participants.
• Regulated Money Transmission: Metallicus operates Metal Pay under U.S. money transmitter licenses, giving users regulatory clarity that many crypto-native wallets lack. This compliance-first posture makes the platform attractive for users who prioritize oversight and consumer protections.
• Cross-Exchange Liquidity: MTL is listed on major global exchanges including Binance, giving the token deep order books and broad accessibility. This liquidity allows traders and long-term holders to enter and exit positions efficiently across multiple jurisdictions and trading pairs.

Metal Use Cases

• Everyday Crypto Spending: Users can fund Metal Pay and send crypto-denominated payments to friends, family, or merchants in supported regions. The app abstracts away wallet addresses and gas fees, making crypto feel like a normal consumer payment rail.
• Low-Cost Remittances: Peer-to-peer transfers on Metal Pay can be cheaper and faster than traditional remittance services, particularly for smaller amounts. Combined with MTL rewards, senders can effectively offset part of their transfer costs through PoPP incentives.
• Earning Crypto Rewards: Active users accumulate MTL simply by transacting, similar to a credit card cashback program but paid in a crypto asset. Over time, these rewards can be held, traded, or converted back to fiat inside the same app.
• Portfolio Diversification: Traders hold MTL on exchanges like Binance as exposure to the payments-and-fintech narrative within crypto. Its history and established listings make it a recognizable name for investors building diversified mid-cap portfolios.
• Fiat-Crypto Onboarding: Newcomers use Metal Pay as a simple bridge to enter the crypto market, buying assets like Bitcoin or Ethereum with a few taps. The regulated fiat gateway reduces the intimidation factor for users who have never used an exchange before.

Metal Tokenomics

Total Supply

MTL has a maximum supply of 66,588,888 tokens, a figure chosen by the team during the original token design. This capped supply means no additional MTL can be minted beyond this ceiling.

Circulating

Circulating supply has grown over time as PoPP rewards, team allocations, and ecosystem distributions entered the market. Dynamic — see CoinGecko for live figures.

Utility

MTL serves as the reward asset within the Metal Pay ecosystem through Proof-of-Processed Payments and as a tradable digital asset on global exchanges. It provides holders with exposure to the broader Metallicus payments vision.

Emission

New MTL enters circulation primarily through PoPP rewards distributed to Metal Pay users for qualifying transactions, rather than a fixed block emission schedule. The pace of distribution depends on platform usage and reward parameters set by Metallicus.

How to Buy Metal

1. 1

   1. Create a Binance account

   Visit binance.com or download the Binance app and register with your email or phone number. Set a strong password and enable two-factor authentication from the Security menu to protect your account before depositing any funds.

2. 2

   2. Complete identity verification

   Navigate to the Identification section in your profile and submit the required government ID, selfie, and proof of address. Verification typically takes minutes to a few hours and unlocks fiat deposits and higher withdrawal limits.

3. 3

   3. Deposit funds

   Go to Wallet then Fiat and Spot and choose Deposit to add USD, EUR, or another supported currency via bank transfer or card. Alternatively, deposit USDT or BTC from another wallet if you already hold crypto you want to convert into MTL.

4. 4

   4. Trade MTL on the spot market

   Open the Trade menu, select Spot, and search for the MTL/USDT or MTL/BTC pair. Enter your order size, choose between a market order for instant execution or a limit order at your target price, and confirm the trade.

5. 5

   5. Secure your MTL

   After purchase, your MTL will appear in your Spot Wallet where you can hold it or withdraw to a personal wallet that supports ERC-20 tokens. For long-term storage, consider transferring to a hardware wallet to reduce exchange-related risks.

Frequently Asked Questions