Blockchain-based secondary market ASMX traded £850,000 within its first month.
Since then, the functionality has been tweaked in line with customer feedback. This includes enhanced filtering of assets, as well as changes to the way that order information is displayed.
“We are pleased with that, especially as we have been finessing the platform over the period with a number of updates,” said David Bradley-Ward, chief executive of ASMX.
“The good news is that liquidity has increased and spreads are beginning to get smaller and we are essentially trading as a premium market now, which shows the level of liquidity and the appetite for our loans.”
ASMX was initially launched as a way of trading the debt generated by lenders on the peer-to-peer lending platform Ablrate. Prior to the launch of ASMX, Ablrate’s secondary market had traded £47m.
“We firmly believe that lenders should have the ability to get better returns by investing directly, but we also realise that to better serve them we must be able to give them better tools for risk management,” added Bradley-Ward.
“The biggest contributor to risk management in any investment is liquidity, that is why we have built ASMX, to create liquidity for the P2P markets and beyond”.
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