Ablrate’s blockchain-backed secondary market ASMX has traded more than £8.5m since its October launch and is starting to partner with other companies including a European peer-to-peer lending platform.
David Bradley-Ward (pictured), founder and chief executive of ASMX, said that the firm is in advanced discussions with a European P2P platform.
He said ASMX has also recently inked a deal with a technology provider, to be announced soon, that will allow platforms to create diversified asset-backed products for their customers to lend into with the ability to still buy and sell over ASMX.
Bradley-Ward added the business is also launching a regulated fund that will be used for underwriting primary market deals for connected platforms.
“We are not just a technology platform for trading, we aim to assist connected platforms create products and assist with filling loans in their primary markets,” said Bradley-Ward.
“Managed by professional and independent fund managers, the regulated fund is designed to underwrite primary loans on connected platforms and provide liquidity to the ASMX ecosystem.
“The fund is seeded and will begin underwriting loans in June at the latest.
“We are very excited about the discussions we are having with a number of parties, we begin integration next week with a soon to be announced company and we are in advanced discussions with a platform in Europe.
“Our team is moving to larger offices next week, we are recruiting talent and bringing on strategic partners, then the roll out will begin in earnest.”
In August last year, Bradley-Ward said the blockchain-based secondary market is aiming for standardisation across P2P platforms to benefit investors.