Ablrate to launch blockchain-powered secondary market
ASSET-BACKED lender Ablrate is developing a blockchain-powered secondary market that will eventually be accessed by multiple peer-to-peer platforms and investors across the world.
David Bradley-Ward, chief executive of Ablrate, launched a partnership with blockchain software provider ASMX, which is working on a solution that will let investors access secondary market loans provided by different P2P platforms in one place.
Bradley-Ward said the technology will create a market where lenders will be able to access any integrated platform.
“For a couple of years now we have had the vision of being able to join platforms together,” he said.
“This was initially envisaged to be just for those using the Ablrate technology but has evolved into a broader ambition of connecting multiple platforms and creating economies of scale for lending platforms and loan originators throughout the world.
“This will create more diversification for lenders, more tools for lending and more analysis, making lending even more effective.”
Read more: Ablrate takes equity stake in Huddle
ASMX is also looking to raise extra funds through an ASM token sale to list on the Gibraltar Blockchain Exchange (GBX).
“It is great to see projects like ASMX join us on our journey, as we provide new industry standards for the token space,” Nick Cowan, chief executive of GBX, said.
“As the GBX grows and develops, with each new on-boarding of tokens like ASM from the ASMX team, we make inroads into progressing toward greater recognition and mass adoption.
“Platforms, like ASMX, that share the same ethical approach as the GBX, and can help industries grow and develop, are welcome.”