ASMX trades over £5.6m in first five months
Ablrate’s blockchain-based secondary market ASMX has hosted more than 30,000 completed trades worth over £5.6m since its launch in October and hopes to soon start integrating other peer-to-peer platforms.
This is up from over £3.4m as of 4 March with £2.6m traded in the last 30 days – the equivalent of around £500,000 per week.
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“It’s cracking on about £5.7m now,” said David Bradley-Ward (pictured), chief executive of Ablrate and ASMX.
“It is tearing through things at the moment which is great. We are feverishly having meetings with potential partners for various different aspects of using the technology which we will reveal as and when we’ll be able to.
“We’re just out there speaking to people, there’s lots of interest now.
“We hope to integrate with other platforms soon, that’s the plan, it’s just a case of seeing where we go.”
In November, Ablrate introduced a minimum trade of £5 for ASMX to prevent lenders from being overloaded with alerts.
Earlier this month, Ablrate unveiled its largest full-year profit to date, despite a dip in turnover amid the Covid-19 crisis.
Aviation and Tech Capital, which owns the asset-backed P2P lender, reported a £93,000 profit for the 12 months to 31 August 2020 – the third year the company has been profitable and double the £46,194 profit from the previous year.