HANOI, Vietnam, Might 07, 2021 (GLOBE NEWSWIRE) — The world’s first crypto-pawn platform DeFi For You is launching a peer-to-peer lending platform that enables customers to stake crypto-assets and NFTs (non-fungible tokens) as collateral for loans.
The launch comes after a wave of funding totaling greater than $100 billion into decentralized finance (DeFi) protocols.
DeFi protocols have to this point centered on lending, debit playing cards, and insurance coverage. Peer-to-peer lending is comparatively untapped within the area and has the potential to permit particular person buyers to supply monetary companies to their friends.
DeFi For You has additionally partnered with Cotswold Superb Jewellery Group to permit pawning valuables for loans in cryptocurrency.
“Pawning is the oldest identified monetary service and an business value billions worldwide,” says founder Adam Chaplin. “DeFi For You is bringing this tried and examined collateralized mortgage economic system to the Binance blockchain.”
Chaplin was additionally a co-founder of the crypto journey web site Travala.com. The blockchain-based service lets customers guide flights, motels, and actions utilizing fiat foreign money or crypto-assets.
That is pawn broking’s debut on this planet of blockchain and it is already being met with a number of pleasure throughout the $100 billion DeFi area.
“Nobody has ever introduced pawn-broking to the blockchain earlier than,” says Chaplin. “We all know it’ll be big. Folks will have the ability to get a crypto mortgage with out even needing a checking account.”
Peer-to-peer lending is not new, however crypto-pawn is a world-first that might ship ripples all through the area.
DeFi For You was included within the UK in January 2021 after a profitable ‘IDO’ (preliminary defi providing) that raised near $10 million. The crypto asset has a market capitalization of greater than $60 million.
The entire worth locked into DeFi protocols now exceeds $100 billion and does not look like slowing down.
Firm: DeFi For You
Web site: https://defi.com.vn/
SOURCE: DeFi For You