Crypto P2P lender introduces new tokens for collateral
ETHLEND has added four new crypto tokens that can be posted as collateral by borrowers on the peer-to-peer lending platform.
Users were asked to vote on new tokens to add at the end of 2018.
The winners were Selfkey, which backs a digital identity platform, bank settlement software token Paxos – ODEM, which supports educational exchange, and ledger storage provider Quant.
“If you need a vacation, a car or have to pay your bills and you hold digital assets but do not want to sell them yet, ETHLend provides a solution for you to get liquidity in a different manner: taking a loan using tokens as collateral,” ETHLend said.
It comes after the lender revealed last month that it is in talks with peer-to-peer lending platforms in the UK about providing technology that will enable them to offer crypto-backed finance.
The crypto P2P lender – which lets borrowers request loan amounts and post other digital currencies as collateral as well as paying interest on the loans – has already started providing its software for a Swiss P2P platform called Cashare and is now working on an entry into the UK.
It also ran an initial coin offering last year, creating a tradeable LEND token that can be used to pay transaction fees.
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