Non-profit organization Merit Foundation introduced its digital currency, MRT, and wallet. It announced $1 million self-funding to support its non-profit business model.
A person with access to the Internet can use this cryptocurrency for daily activities such as splitting a restaurant bill or buying clothing online. Merit claims it created a cryptocurrency and wallet as easy to use as Venmo, Paypal or the Apple Cash app.
Merit's invitation-only blockchain is community-driven, grows with its users, and uses a mining model to reward them accordingly.
No one can join without having been referred by another member. The Merit protocol keeps track of the referral tree, and selects top ambassadors to participate in the mining reward in each block.
MRT features decentralized vaults and escrows on the blockchain. The company says vault can be recovered in a totally decentralized way through the use of trusted guardians even if password is lost, unlike other digital currency wallets.
MRT, can be sent as a tweet, SMS or Email, and is claimable without wallets.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.