SmartCredit.io is pleased to announce that we are joining Celo’s “Alliance for Prosperity”, a group of more than 100 key players in the blockchain space with the shared goal of greater financial inclusion and prosperity for all.
Celo is an open platform that makes financial tools accessible to anyone with a mobile phone.
SmartCredit.io is a DeFi lending platform with focus on the Personal Fixed Income Funds for the lenders and with Low Collateral Ratio for the Borrowers.
This partnership means:
- SmartCredit.io becomes member of Celo Alliance
- SmartCredit.io will integrate Celo stablecoin — cUSD (Celo Dollars)
Why is this partnership important for SmartCredit.io?
DeFi lending / borrowing is very much focused on the standard assets as collateral (the tokens of other projects) and standard assets (DAI, USDT, USDC, …) as the underlying’s for the borrowing.
However, there are many more collateral types — see our latest announcement about the partnership with the AMPNet, which allows SmartCredit.io to integrate the real asset backed tokens into DeFi borrowing/lending.
Additionally, there are many more underlying’s, which people are using for the payments. And our aim is to integrate these underlying’s into SmartCredit.io. Especially, if these are not yet present on the main platforms (hint: it’s all about client acquisition). That’s why SmarCredit.io integrates the cUSD.
Why is this partnership important for Celo?
Celo is an open blockchain platform that makes financial tools accessible to anyone with a mobile phone. The novel proof of stake network enables mobile-first access to DeFi and dapps. Celo’s ultralight client is over 700,000x lighter than other networks and enables any smartphone, even with limited internet connectivity, to quickly and easily sync with the network. Its open source technology can be leveraged to build an ecosystem of powerful mobile applications, ranging from easier cash transfer programs to peer-to-peer lending, international remittances to digital assets and wallets.
Launched in March 2020 by Celo Foundation, current members including Andreessen Horowitz (a16z), Coinbase Ventures, Polychain Capital, Ledger, Blockchain.com and more than 100 other members, this Alliance aims to build an open monetary system that brings prosperity to all stakeholders. They have the diversity of the Members both in terms of geography, as well as unique contributions to serve more people: Ontology, Paxful, Coinbase Venture, and the United Africa Blockchain Association.
Partnership with Celo will enable DeFi borrowing and lending for Celo. It’s about the financial inclusion. It’s about offering to financial solutions to the people, which are not included in the traditional financial world.
SmartCredit.io Partnership Model
SmartCredit.io general partnership model is to share loan origination fees with the integration partners. Furthermore, the integration partners will earn the reward tokens for the borrowers and lender loan volume. The integrating parties can integrate via the API’s or via our widgets (like for example Piixpay and Cryptotask).
SmartCredit.io is also open for further partnerships. If you think your line of work is similar to ours and the benefits could be mutual, please contact us for further information.