Advanced Lending Platform Credefi Integrates with Reef Finance and Reef Chain
Reef Finance, the builders of the Ethereum VM-compatible smart contract blockchain called Reef Chain, announced an upcoming integration with Credefi, a cryptocurrency lending platform for real world applications that connects lenders with small and medium-sized enterprises (SMEs). Тhis integration will allow SMEs, historically underserved by traditional financial institutions and typically borrowing at high interest rates, accessing more efficient capital. It also allows lenders to serve this large class of industry of creditworthy, reliable loan payees.
The Credefi platform gives CREDI token holders total control over their portfolio, allowing them to choose which risk profile of credit portfolios to lend stable coins to, ranging from low risk to high risk. With risk assessment and credit score data in hand, lenders will be able to make an informed decision about which portfolios to allocate their funds to. With the ability to earn an APY over 10% depending on the risk appetite of the lender, Credefi meets the needs of both borrowers and lenders, creating a win-win situation!
“The Credefi team is a strong believer in direct peer-to-peer finance. Credefi can act as a platform that puts borrowers and lenders together, no matter where in the world they are located, allowing them to solve the challenges they both face together. Building on Reef Chain allows us to tap into lenders and liquidity across multiple blockchains, easily having them move those funds to Reef Chain, and take full advantage of the low fees and other capabilities Reef Chain offers,” says Ivo Grigorov, Co-Founder and CEO at Credefi.
“Borrowing money from banks has always been fraught with problems: relationships matter more than fundamentals, high interest rates, harsh penalties, and so on,” says Denko Mancheski, CEO of Reef Finance. “The Credefi platform gives stablecoin lenders predictable yields based on their own risk tolerance, and gives borrowers access to lenders willing to work with them based more on data, and less on feelings and nepotism. The Reef Finance team is really looking forward to support Credefi’s journey as the deploy on Reef Chain, and attract users to the platform.”
The Credefi team will deploy to Reef Chain as soon as it’s ready, and they are eager to contribute their experience working in banking, financial services, and government to a space that sorely needs better solutions for borrowers and lenders alike.
About Credefi
Credefi connects crypto lenders with SME borrowers from the fiat economy. The protocol resolves the key challenges that DeFi and TradFi are facing today: DeFi’s inconsistent, fragile yields that evaporate in bear markets and speculative borrowers that are fickle and cannot satisfy DeFi lending supply; as well as the difficulty for SMEs to get TradFi funding at normal interest rates.
About Reef Finance
Reef Finance is building Reef Chain, a DeFi blockchain built using Substrate Framework. Reef Chain provides high scalability, enabling almost instant low-cost transactions, and supports Solidity and EVM, allowing developers to seamlessly migrate their DApps from Ethereum without any change in the codebase. Our vision is to make DeFi easy for everyone to invest in and build DeFi applications on top of Reef Chain.
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