The EQONEX group has launched EQONEX Lending, a crypto lending platform that allows institutional lenders and borrowers to interact directly through a lending exchange.
The platform allows exchange participants to view the market rates offered through an open order book that establishes competitive conditions in the market for guaranteed trades.
In addition to stock market loans, EQONEX will also offer an over-the-counter loan service, with the prevailing rates visible on the platform.
EQONEX Lending manages the entire loan life cycle, eliminating settlement risk, actively managing collateral to protect the lender against default risk, and dramatically reducing operational risks normally associated with manual loan processing, EQONEX explains.
The risks associated with the re-mortgage are also eliminated as the secured assets are kept in fully separate storage in its depository registered by the Financial Conduct Authority, the group adds.
The EQONEX loan platform integrates with all other EQONEX programs, including its digital custodian Digivault, which provides fully separate custody for loan platform loan guarantees.
EQONEX Lending will also be integrated with the EQONEX crypto exchange to provide borrowing and lending services to retail and institutional investors.
The launch of the EQONEX lending platform follows a licensing agreement with Lendingblock, a cryptocurrency and digital asset lending platform, under which EQONEX has integrated lending exchange technology from Lendingblock.
EQONEX Lending also initiated and finalized its first crypto loan to provide a Bitcoin loan backed by a USD Coin collateral.
Commenting on the launch of the new lending platform, Charlie Beach, Director of EQONEX Lending, said: “We are very pleased to have launched what we believe to be a transformative product for the institutional lending market, enabling a wide range of businesses come together in a safe and transparent place that combines proven financial concepts from the capital markets with blockchain technology. “
Richard Byworth, CEO of Diginex, comments: “The crypto lending market is expected to be one of the fastest growing industry segments in the months and years to come as institutions seek to effectively manage their capital. . EQONEX Lending will be the only platform. which provides the ability to view the entire loan portfolio, allowing clients the flexibility to define their own financial terms. “