On December 6, Mongolia’s first car manufacturing assembly line opened in Ulaanbaatar, the capital city of Mongolia. We reported exactly two years ago that the company opened a joint automotive assembly plant in Hangzhou, China, and launched the production of its first automobile. Bars Motors LLC, the owner of both factories and creator of the MOZO car, has been selling 10 percent of its stock as a tokenized IEO.

The MOZO Coin of Bars Motors LLC will be available for purchase on December 27. In addition to being Mongolia’s first tokenized stock, purchase of the MOZO car and its parts could be bought through using the coin. Due to its unique position, the coin is generating much buzz in Mongolia, and has attracted interest from renowned financial, and crypto associations across Shanghai, New York, London, and Tokyo.

DeFi expands on Bitcoin's promise of digital money and replaces Wall Street completely digitally, with no associated costs (office towers, trading floors, bank employee salaries, etc.). This has the potential to create an efficient, fair, and open financial market that anyone with an internet connection can use. Currently, DeFi makes up only five percent of the crypto space but is growing at an exponential rate.

On December 6, Mongolia’s first blockchain-based car assembly plant is to open. Last year, we reported that Bars Motors, a Mongolian automobile manufacturer, opened a joint automotive assembly plant in Hangzhou, China, and launched the production of MOZO, the first Mongolian car. We interviewed D.Dembereldorj, Director of Bars Motors regarding the factory and future aspirations of the MOZO brand. Photo: Founder D.Dembereldorj next to Bars Motors MOZO