Alchemy Adds moolya.global as Microfinancing Test, ICO Loom. Makes strategic investment of 3+million USD in its ICO.
21th Aug 2018
New York, New York
In less than two months, Alchemy Coin will conclude its ICO process and begin formal trading on several high-profile exchanges including Bancor, widely considered one of the top cryptocurrency trading platforms in the world.
This means Alchemy tokens will be tradeable for investors worldwide after the peer-to-peer lender successfully raised in excess of $40 million for the artificial intelligence-blockchain platform they are currently building. Today, the company announced a deal with India’s moolyacoin in an exclusive partnership arrangement to bilaterally exchange up to $5 million of each other’s tokens.
“Our ICO is near the final stages,” says Alchemy Coin CEO Justin Jung. “So, we are delighted to partner with moolya because we are confident in their long-term trajectory. This deal will have very strong network effects for both sides.”
Mr. Jung adds: “moolya has a special knack — a genius, really — for outstanding marketing. All of business, they say, comes down to innovation and marketing, and on both counts moolya is at the head of the class. I am highly confident the moolya network will have a very positive impact on Alchemy Coin as we venture into the developing world.”
“Partnering with Alchemy Coin is a real honor,” says moolyacoin CEO Usha Nirmala. “Justin is a true pioneer in the blockchain space, and we are grateful for the chance to collaborate with him as a close partner for decades to come. Micro-lending is red-hot at the moment, and we believe our network effect in India alone will pave the way for Alchemy here at home and, someday, all around the world.”
Consider these stats, according to the Association of Microfinance:
· About 30 million borrowers in the microfinance industry have their business located in India. About 40% of total microfinance activities take place in India right now.
· India has a highly regulated microfinance market, with a network of nearly 11,000 branches that provide jobs for about 81,000 people every year.
· Just 8% of adults in India have a financial product or resource that is provided by a formal financial institution. #10. In 2011–2012, about 20,000 microloans were distributed to small business owners in India. In 2015–2016, more than 70,000 of these loans were distributed.
Microfinance is the practice of extending a small loan to individuals who do not have access to this type of capital. This allows individuals who are living in poverty to work on becoming financially independent so they can work their way into better living conditions. Since a majority of the world is forced to survive on the equivalent of just $2 per day, microfinance becomes a solution that can help more people be able to improve their living conditions. These are the benefits of microfinance in developing countries and why everyone should consider getting involved in this form of lending, according to analysts.
“Fully 2.5 billion of the world’s adults don’t use formal banks or semiformal microfinance institutions to save or borrow money,” says a recent study by McKinsey, the global consultancy. “Nearly 2.2 billion of these unserved adults live in Africa, Asia, Latin America, and the Middle East. Unserved, however, does not mean unservable. The microfinance movement, for example, has long helped expand credit use among the world’s poor — reaching more than 150 million clients in 2008 alone. Similarly, we find that of the approximately 1.2 billion adults in Africa, Asia, and the Middle East who use formal or semiformal credit or savings products, about 800 million live on less than $5 a day. Large unserved populations represent opportunities for institutions that are able to offer an innovative range of high-quality, affordable financial products and services. Moreover, with the right financial education and support to make good choices, lower-income consumers will benefit from credit, savings, insurance, and payments products that help them invest in economic opportunities, better manage their money, reduce risks, and plan for the future.”
“Alchemy Coin is targeting loans of up to $25,000 but we will also be making traditional ‘micro-financing’ loans,” says Mr. Jung. “The whole point is billions of people around the world are deprived any access to capital. We see this as a fundamental global problem that needs to be addressed. And our partnership with moolya gives us a window to many borrowers in corners on the world that we might not identify on our own.
“We applaud Justin and the entire Alchemy team for their valiant efforts to improve tens of millions of lives in developing countries,” says Ms. Nirmala, the moolya CEO. “We know firsthand how dire the financial situation can be for so many, and we feel blessed to have this unique opportunity to serve as facilitators in this very noble pursuit.”
“The Alchemy Coin blockchain ecosystem becomes demonstrably stronger, more robust and financially viable today after we formed our long-term alliance with the brilliant minds at moolya, led by Usha and her team,” says Mr. Jung. “As we take our next steps together on this wonderful journey, we are confident we are building the right technologies at the right time in a turning point in human history.”
‘moolya.global’ is the ‘World’s 1st Comprehensive Global Digital Startup Ecosystem’ which is a culmination of an interaction network, marketplace and on-demand service platform for the startup ecosystem community. It comprises of the six vital communities: Institutions, Ideators, Startups, Investors, Companies, Service Providers and various other enablers.
moolya uses time tested concepts of clusters, chapters and subchapters, digital offices, service cards, avatars, business processes and workflows to emulate the offline models of a startup ecosystem.
We welcome you to register on ‘www.moolya.global’ to experience a patent-pending SaaS platform for conduction of an ecosystem, that will let its users find infinite possibilities as they converge, explore, collaborate, conduct, transact and service on our platform.
For more information on moolya or to participate in the ICO check out: http://moolyacoin.io/
Alchemy is a blockchain-based peer-to-peer (P2P) lending marketplace. The platform allows for instant and direct lending between supply-side lenders and demand-side borrowers from all over the world in a trusted manner using the advantages of smart contracts and blockchain technology. We offer a unique architecture to analyze and structure a credit risk-adjusted rate with the utilization of Artificial Intelligence and Machine Learning technologies. We aim to revolutionize the peer-to-peer lending market and serve as the leading infrastructure for credit providers and credit seekers. Alchemy will be the first peer-to-peer (P2P) lending platform that utilizes blockchain technology to reduce high credit risk and high default rate, while at the same time offering a risk-adjusted downside protection for capital commitment lenders. As Alchemy P2P credit products grow and the network expands, we aim to become the leading source of personal loan providers for individuals around the world.
For more information on Alchemy or to participate in the ICO check out: https://www.alchemycoin.io/
