Lendingblock (LND) is an open exchange for institutional cryptocurrency loans.
It’s another institutional crypto play, which I’ve been writing about recently. The last one was on the b0x Protocol where you can also find links to other institutional crypto plays I’ve written about.
Let’s check out Lendingblock.
According to Lendingblock, “We believe institutional cryptocurrency investing is inevitable. Going forward, cryptocurrencies will form part of a growing number of multi-asset investment portfolios.”
Lendingblock is introducing securities lending to the crypto world.
Borrowers would include hedge funds, investment managers, market makers, and proprietary traders. And lenders would include asset managers, hedge funds, family offices, and even individuals.
For borrowers it’s a way to get liquidity out of their assets. And for lenders it’s a simple and safe way to earn additional income on long term investments without sacrificing ownership.
Lendingblock is comprised of two discreet but complimentary parts.
First is a real-time exchange that links borrowers and lenders.
And second is a smart contract based operational system that implements the terms of the lending agreement created by the exchange, including initial transfer, interest payments, collateral management, default processing, and repayment.
It all runs on the LND token, an ERC 20 token. LND is used to pay interest by lenders and as the sole medium of payment for Lendingblock platform fees. There’s a total of 1 billion LND. For more details check out the tokenpaper.
Lendingblock is co-founded by Steve Swain and Linda Wang. Key investors include AlphaBlock investors and Global Blockchain Innovative Capital.
On the roadmap Lendingblock is looking to get regulatory approval by July 2018 and launch in August 2018.
It’s a big opportunity, over $2 trillion in debt and equity securities were lent against in 2017 alone.
What do you think of Lendingblock?
and trade cryptos on Binance