RCN weekly update: first credit loans, Exchange Union partnership and BioCoin alliance

First credit loans: a key milestone for the RCN network

As we announced a few days ago, RCN launched its first credit exchange implementation on the argentinian-based Bitcoin wallet Ripio (whose core team developed the idea behind RCN), using the network protocol smart contracts.

This week, the brand-new Alpha RCN exchange executed its first credit loan requests, a feature that was open for selected number of borrowers from Argentina, which is the current main market of the Ripio wallet. Ripio will allow more loan requests from its current +130k users during the following weeks.

Exchange Union: access to global liquidity

RCN has just partnered with the cross-exchange trading network Exchange Union, an exciting project backed by the renowned blockchain-focused business venture Digital Finance Group in order to improve trading efficiency and ensuring liquidity.

All crypto exchanges members of the Exchange Union (XUC) will be able to integrate the RCN protocol, acting as credit exchanges and allowing their users to become RCN network lenders. Both companies aim to launch a pilot version of their combined technologies next year.

“I’m amazed by the RCN technology and its team, they’re working on a very disruptive project and these types of use cases with strong demand for liquidity and accessibility are the ones that Exchange Union is looking to support and help” — said James Wo, CEO and co-founder of Exchange Union.

BioCoin: responsible consumption on crypto

RCN has also joined forces with the loyalty crypto-platform BioCoin to lend support for green and sustainable businesses worldwide. BioCoin members will now be able to lend and borrow resources within the platform.

Created by the Russian eco-farming network LavkaLavka, BioCoin is an international blockchain-based loyalty platform designed to support local farmers and organic food retailers through a system of rewards and discounts.

“From the very beginning we have envisioned BioCoin platform as an instrument facilitating small businesses and farmers. Lending support is of course key here. BioCoin’s partnership with RCN will allow users to support a budding green business”. — said Boris Akimov, CEO of BioCoin.

What’s next

The RCN team is now working on the rest of the pieces of its network protocol according to their development roadmap. Soon, the company will start the onboarding process for new companies and partnerships to join the network.

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