Mobius network, also known as Stripe for Blockchain, has partnered up with Producers Market to begin accepting cryptocurrency payments in the agriculture industry. Will this help MOBI climb up on the cryptocurrency market cap list?

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What’s the Partnership About?

Producers Market is the leading digital community for farmers and consumers. They are reportedly committed to empowering producers and consumers through blockchain technology.

They directly connect agricultural producers and wholesale buyers around the world. Doing so, Producers Market is aiming to build the world’s largest and most powerful digital cooperative of vetted agricultural producers.

By partnering up with Mobius they are looking for a real-world application of blockchain solving a major problem.

This partnership makes MOBI the first cryptocurrency accepted between a farm and a food processor.

Mobius and its token, MOBI, currently rank 308 on the market capitalization list.

We had previously talked about Mobius as they ran MOBI’s initial coin offering (ICO) on the Stellar network instead of Ethereum. Mobius raised $39 million in their ICO in January 2018. It was one of the larger recent token sales and the largest on the Stellar platform.

Cyrus Khajvandi, COO, and Co-Founder of Mobius hopes their partnership with Producers Market gives farmers in over nine countries the ability to go cashless and cut out fees while passing the savings on to consumers.

Mobius MOBI/USD Price Action

The announcement could help MOBI’s price action as it has been under pressure lately. After dropping from its all-time-high ICO price of $0.4, MOBI/USD has been having difficulty breaking above the 0.1 resistance level. At the time of filming it is trading at $0.06.

The token is not yet available on the TradingView charting system. Therefore, we are unable to do any further technical analysis, nor can we use the Ichimoku Kinko Hyo technique to develop an investment strategy.

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This article was originally published on InvestDiva.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.