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_1254155617
December 14 2018

ETHLend in talks to provide crypto software to UK P2P lenders

Marc Shoffman Cryptocurrency, News cryptocurrency, ETHLend, Stani Kulechov

ETHLEND 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.

Read more: FCA hails positive impact of P2P regulation for cryptos

Stani Kulechov, founder of ETHLend, declined to reveal which P2P lenders he was speaking with in the UK, only to say they tended to be mid-sized than larger firms.

“The advantage of this type of borrowing is that someone with cryptocurrency may still want exposure to the asset but needs money to pay a bill,” he said.

Read more: ETHLend unveils launch of new parent company

“By borrowing on ETHLend they will be able to post the cryptocurrency as collateral while they borrow and repay a loan, therefore keeping their asset and also avoiding any tax on having to sell it.”

ETHLend also plans to open a London office near to Old Street – known as Silicon Roundabout – which would house 10 members of staff.

The platform currently has almost 200 active loans and its loanbook is worth more than $2m (£1.5m).

Additionally, its founders are working on a separate platform that will let users pay bills in different forms of cryptocurrency.

Read more: ETHLend borrowers can now post gold-backed tokens as collateral

This article featured in the December issue of Peer2Peer Finance News, now available to read online. 

Draft Brexit deal would expose NI fintech sector to “unnecessary risk” Write-offs and legal disputes hit Ranger returns

Related Posts

CLOSED Out of business shop sign vector illustration

Industry News, News, Top 3, Uncategorized

SME lender warns many companies will not survive

London, UK - Downing street offices, entrance gate

Industry News, News, Top 3

Government responds to P2P fraud query

money UK

Industry News, News, Property, Top 3

The alternative lenders accredited for CBILS

Popular posts:

  • MP queries level of fraud in P2P lending
  • Aave launches higher risk, higher return option for…
  • Some firms set to pay more than maximum CBILS interest rate
  • Growth Street to return 100pc of investor funds
  • A year in the life of the 36H Group
  • Investors urged to look at ISA options ahead of…
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