Monetha Signs Partnership Deal with A Leading Central European Food Delivery Company


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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 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..” 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.

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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