Quoine lists Lendingblock to kick off partnership
Security lending is commonplace in regular financial markets. In 2017 alone this industry generated more than US$4 billion, with more than US$2 trillion out on loan at any one time in 2017. In the crypto sector, we now have Lendingblock introducing the space to a parallel version of this business model. Based on the size of the security lending market, this style of lending to cryptocurrency has huge potential.
Lendingblock has its own token, LND, the ICO for which ended in April 2018. The ICO successfully reached the $10M hardcap and we are pleased to announce that LND is now listed on QRYPTOS and available for trading.
What is Lendingblock?
Lendingblock is a new project that allows holders of cryptocurrency to lend out their digital assets to others. Anyone who lends out their assets is able to gain interest over time on their loaned assets. Borrowers are able to use the lended funds to support shorter term hedging and trading. Lendingblock is essentially an open exchange that facilitates the lending and borrowing of cryptocurrency assets. The exchange can instantly match borrowers with lenders, and it is completely secure and transparent. They are unique in this regard, because other peer-to-peer lending crypto projects have not created a lending exchange.
Lendingblock aims to encourage cryptocurrency holders to lend out their digital assets, because lending brings benefits to the crypto markets. Lending will increase growth and spending, helping to grow the crypto markets. The Lendingblock team anticipates a wide range of lenders, from large hedge funds to just individual investors. All loans through the Lendingblock protocol are fully collateralized, which should increase the trust in the project.
With any crypto project it is important to understand the utility of the token.The LND token will be the only payment method available for paying and receiving interest on loans on the Lendingblock platform. Therefore, if you are using this new platform, you will have to be using the LND token. The Lendingblock team are targeting 50% of the lending market share in cryptocurrency. If they can achieve this, the LND token should be in high demand.
Lendingblock and Quoine partnership
At the end of June, we announced a partnership with Lendingblock. This partnership will integrate our platform with the Lendingblock platform to share liquidity and extend borrowing and lending to exchange users. Additionally, Quoine has joined Lendingblock’s Institutional Advisory Group.
The vision of the Lendingblock team aligns perfectly with ours at Quoine. We want to provide financial services to the masses by utilizing blockchain technology. Lendingblock are looking to achieve the same thing. We believe that both of our communities will greatly benefit from this partnership, and we are looking forward to shaking up the crypto economy together.
Octagon Strategy Partnership
Lendingblock has also secured a partnership with Octagon Strategy, which is the largest digital asset brokerage in Asia, led by industry powerhouses. Octagon Strategy are joining the Institutional Advisory Group along with Quoine, so they can trial and assist with the launch of the Lendingblock platform. The CEO of Lendingblock is confident that Octagon Strategy will provide invaluable market insight that will help the team push their project forward.
LND is now live for trading on QRYPTOS.
