Strength to Strength: Alchemy Coin, Australia’s Invox Finance Ink US$2 Million Deal
New York, New York
August 17, 2018
Alchemy Coin is having a summer to remember. The peer-to-peer lending platform is acquiring senior Wall St. talent, opening a Seattle office, adding to its ever-expanding global network, signing multi-million-dollar token swap deals — and the pace is only accelerating.
Today, Alchemy Coin announced another significant token swap with Australia’s Invox Finance in a US$2 million deal that bolsters their future efforts to become the global leader in blockchain lending solutions for decades to come. Alchemy Coin’s CEO Justin Jung applauded the announcement as a logical next step on the company’s path to achieve competitiveness in a crowded field.
“Invox Finance is exactly what we need and exactly what we have been looking for in this area,” says Mr. Jung. “While Alchemy Coin will give homeowners and students access to much-needed credit, Invox Finance takes this model to small businesses, which are incredibly vital to the global economy. We are expanding our reach and growing our network at the same time. This deal is a home run for us at Alchemy Coin, and we hope our friends at Invox Finance feel the same way.”
According to Forbes, small businesses have a transformative impact on the U.S. economy: “There are between 25 million and 27 million small businesses in the U.S. that account for 60 to 80 percent of all U.S. jobs. And, a recent study by Paychex says that small businesses produce 13 times more patents that larger firms.”
The global consultancy McKinsey says small businesses globally are transformative in terms of propelling economic growth and sustaining long-term financial advancements: “Small businesses worldwide are becoming “micro-multinationals” by using digital platforms such as eBay, Amazon, Facebook, and Alibaba to connect with customers and suppliers in other countries. Even the smallest enterprises can be born global: 86 percent of tech-based startups we surveyed report some type of cross-border activity. The ability of small businesses to reach new markets supports economic growth everywhere.
“The small business statistics in the U.S. are pretty remarkable,” notes Mr. Jung. “But we have much higher mountains to climb — we are looking at this globally. And on a global basis, small business is exponentially larger. We have enormous challenges as we move forward, but our Invox Finance deal also gives us enormous upside. I cannot wait to implement this arrangement and get started.”
“We plan to disrupt and revolutionize the traditional invoice finance industry by implementing a global distributed lending platform called the Invox Finance Platform,” says Invox CEO Alex Mezhvinsky, “and our mission is to bring small businesses to the crypto-ecosystem by providing them with low interest loans”
Mr. Mezhvinsky adds: “This platform will completely eliminate the need for a traditional financier’s involvement by connecting businesses that wish to accelerate their cash-flow through selling their invoices, directly with investors who wish to finance these invoices. The Invox Finance Platform will allow sellers, buyers, investors and other service providers to directly connect, interact, share and distribute information in a trustless environment utilizing a fully distributed ledger.”
Having cross-border alliances is vital for businesses of all sizes as the competitive global economic landscape makes it harder and harder for small business to survive. Says the McKinsey report: “Countries cannot afford to shut themselves off from global flows, but narrow export strategies miss the real value of globalization: the flow of ideas, talent, and inputs that spur innovation and productivity. Digital globalization makes policy choices even more complex. Value chains are shifting, new hubs are emerging, and economic activity is being transformed. This transition creates new openings for countries to carve out profitable roles in the global economy. Those opportunities will favor locations that build the infrastructure, institutions, and business environments that their companies and citizens need to participate fully.”
“We can’t do this by ourselves, and we know it,” says Alchemy Coin CEO Justin Jung. “All along, we have made it clear our intention to partner with cutting-edge service providers who are pioneers in all spheres of finance and technology, and in this regard Invox Finance is in a class by itself. This is an important step on our common journey at Alchemy Coin.”
Mr. Jung concludes: “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 Invox Finance, led by Alex and his team,” says Mr. Jung. “We are highly confident we are building the right technologies at the right time in a turning point in human history.”
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Invox Finance is excited to offer small businesses worldwide a solution to their cash-flow problems by providing accessible, low interest financing through our distributed invoice financing platform. The traditional invoice financing model does not create a direct relationship between the person funding an invoice and the person paying that invoice. Our proposal is to create a decentralized platform which will connect all parties, distribute information with greater flexibility, and lower the risks of all involved. We draw on our many years of experience running a successful invoice financing company in Australia, ABR Finance Pty Ltd (www.abrfinance.com.au). Founders’ Introduction ABR Finance has been in operation since 2012 and has helped fund businesses throughout Australia with $30 million AUD in invoicing, across a broad range of industries including IT, wholesale, construction, transport, engineering, equipment and labor hire, publishing and professional services.
For more on Invox Finance please visit their website: https://www.invoxfinance.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/
