BLOCKCHAIN-BACKED peer-to-business lender Debitum Network has partnered with a Romanian finance provider.
Investors can now back loans from Romania-based business lender Mikro Kapital on Debitum’s platform, offering rates from nine to 10 per cent.
Mikro Kapital is regulated by the European Union and controlled by Luxemburg authorities.
It lends in Russia, Latin America and central and east Asia.
Read more: How important are bounty hunters to an ICO?
Read more: Blockchain special feature
“The group invests in the real economy, stimulates the growth of small companies by providing financing to creditworthy micro and small businesses, and gives investors an opportunity to diversify their funds by investing in industrial, agricultural, and service segments of the global economy,” Debitum Network said.
Debitum Network says it offers a faster source of finance than traditional banks, with decisions made in as little as an hour. It provides loans between €10,000 (£9,000) and €1m, with terms ranging from two to six months.
Transactions are recorded using smart contracts on the ethereum blockchain.