Ablrate’s blockchain-backed secondary market ASMX has traded £5.99m in the past 90 days.
ASMX is aiming to become a global platform for trading private debt and is looking to partner with other peer-to-peer lending platforms to boost their liquidity.
David Bradley-Ward (pictured), chief executive of Ablrate and ASMX, said that most trades on ASMX are executed at par.
“This debunks the myth of markets like ours being a ‘flippers’ paradise,” he said in a LinkedIn post.
“It shows the flexibility is there if needed for cash and risk management but most trades settle at par.”
Bradley-Ward said that spreads have tightened, particularly, in liquidity events like loan capital repaying.
He said shows that lenders are reinvesting those funds across the platform at slightly higher prices.
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“This is probably an effect of more Innovative Finance ISA money coming onto the platform and needing to be deployed,” Bradley-Ward said in the LinkedIn post.
“We would expect this to see this reduce as Ablrate releases new loans over the coming weeks.”
In November, Ablrate introduced a minimum trade for ASMX, as part of a range of updates. ASMX will now have a minimum trade of £5 to prevent lenders from being overloaded with alerts.
Other features being added include letting lenders view cancelled orders, setting manual price restrictions so investors cannot buy a loss and making it clearer whether users are executing a buy or a sell.