Cereal Launches in Dubai
Revolutionary access to fiat loans for crypto holders
Cereal, the unique new ecosystem for crypto-backed fiat loans, launched in Dubai on April 16th at the World Blockchain Forum — one of the world’s leading conferences for the crypto community. The Cereal business plan represents a highly original opportunity for crypto asset holders to gain access to fiat loans using their crypto as security. Cereal will mediate between the old fiat market, and the new crypto market.
Cereal’s innovative approach garnered much attention at both the conference itself, and at a glittering dinner at the luxurious five star, Five Palm Jumeirah Hotel. Here the core Cereal team were joined by their business partner, Giga Watt — North America’s largest crypto mining farm — whose CEO, Dave Carlson, spoke passionately to the attendees about the exciting opportunity Cereal represents. With Giga Watt as partner, commencing Q3 2017, the Cereal ecosystem will enable customers to purchase crypto mining equipment by installment, with the mining equipment serving as collateral for the remainder of the loan.
“Many people want to own Crypto miners but are unable to meet the large upfront costs or the heavy energy requirements. Cereal and Giga Watt together are presenting a radical new opportunity for participating in mining.” — Daniel Yavorovych, CTO, Cereal
Cereal COO, David Oganyan, thinks that the Cereal business model has the potential to transform the way that crypto holders view their assets:
“Crypto owners don’t want to be selling their tokens in order to meet short term operational costs. Using Cereal, a crypto owning borrower can secure up to 50% of a fiat loan’s value against their crypto. Cereal plans to offer credit cards by the end of 2018 which will allow crypto holders to have immediate, convenient access to fiat currency using crypto assets as security on the credit. We’re seeing real excitement in the crypto community at the opportunity to gain immediate access to cash while maintaining crypto positions.”
The Cereal team will now be on a multi-country roadshow to explain the unique Cereal opportunity to the crypto community prior to a public token sale in Q2, 2018. Pilot loans secured against BTC and ETH will be available in Q4, 2018, with global expansion planned for 2019.
To learn more, the Cereal Whitepaper is available here.
To join the discussion, visit the Cereal Telegram at: https://t.me/cerealico
Cereal ICO website: https://cereal.cryptonomos.com/
Product website: https://cerealfinance.com
