Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2020
    • Power 50 2019
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Jobs
  • My Account
    • Manage Account
    • Change Password
    • Log In
    • Log Out
shutterstock_1044058180
September 4 2018

A new blockchain P2P platform has launched

Kathryn Gaw Cryptocurrency, Industry News, News Abra 1.0, blockchain, Debitum Network

DEBITUM Network, a peer-to-peer platform that enables worldwide investors to fund short-term loans to small businesses using blockchain technology, has now launched.

The Lithuania-based start-up said on Tuesday that it has launched with an investment portfolio of €500,000 (£450,414) and is scheduled to roll out in 15 countries by 2019.

The new platform, called Abra 1.0, uses blockchain technology to power its internal processes, using its Ethereum-based DEB token. Loans are delivered using traditional fiat currency.

Read more: How important are bounty hunters to an ICO?

As Peer2Peer Finance News reported last month, Debitum Network’s core premise is that it will offer a faster source of finance than traditional banks, with decisions made in as little as an hour. It will provide loans between €10,000 and €1m, with terms ranging from two to six months.

Investors can expect annual returns of 10 to 15 per cent.

“Debitum’s platform represents a significant milestone in tackling a serious global problem,” the firm said.

Read more: Michelle Mone’s crypto-P2P platform on hold for global launch

“According to recent World Bank figures, some 70 per cent of small- and medium-sized enterprises (SMEs) worldwide are unable to secure the funding they need from traditional banks.

“Bureaucratic processes, cumbersome regulation and risk-averse lending have seen the conventional banking industry increasingly unable to address the needs of SMEs for flexible, short-term lending – leading to a boom in alternative finance options that is expected to top $90bn by 2020.”

Funding Circle IPO will be open to platform’s existing investors Bitbond launches flexible working capital product

Related Posts

nikhil-rathi-high-res

Industry News, News, Top 3

FCA boss defends appointment of new supervision and policy head

fca office

Industry News, News, Top 3

FCA pays FundingSecure investors due to delay in addressing complaints

Crypto currency background with various of shiny silver and golden physical cryptocurrencies symbol coins, Bitcoin, Ethereum, Litecoin, zcash, ripple

Cryptocurrency, Industry News, News, Top 3

Aave’s marketplace surpasses $5bn in liquidity

Popular posts:

  • The House Crowd goes into administration
  • Sunak to announce stringent CBILS successor scheme
  • RateSetter to stop investment withdrawals from 26 March
  • Octopus Choice has permanently closed
  • Metro Bank plans to offer RateSetter lending through…
  • UK Finance calls for global fintech cooperation
Back To Top
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2020
• Additional design by