Mt Pelerin and SmartCredit.io Announce an Exciting New Partnership
Mt Pelerin is a Swiss gateway to the crypto economy. It offers easy and cost-effective ways to buy and sell cryptocurrencies via fiat.
SmartCredit.io is a DeFi borrowing/lending platform focusing on fixed-income loans, fixed-interest-rate loans, and DeFi fixed-income funds. SmartCredit.io has 17'000+ registered users.
This partnership means:
- SmartCredit.io will integrate Mt Pelerin’s fiat-crypto-fiat conversion facility.
- SmartCredit.io users can buy in SmartCredit.io ETH and other cryptocurrencies via bank transfer.
Why Is This Partnership Important for SmartCredit.io?
SmartCredit.io is a decentralized finance (DeFi) borrowing/lending platform with a focus on:
- Fixed-term lending for borrowers
- Fixed interest rates for borrowers
- DeFi fixed-income funds for lenders
- Low collateral ratios for borrowers
Most borrowing/lending platforms offer variable-rate, variable-term loans for borrowers. We are the opposite — we offer fixed interest rates and fixed terms for borrowers.
Why is this significant? Because of the cost of capital. Borrowers want to know how much their cost of capital is. In the same way, lenders want to know how much they will earn. Both sides will have predictability. This is only possible with fixed-interest-rate loans. Smartcredit.io thus supports real-world economical use cases where the borrower and lender have certainty in their interest rates and loan terms.
Additionally, SmartCredit.io offers DeFi fixed-income funds for lenders. Lenders define which kind of loans they want to invest in — they define their own personal investment rules. Every lender can choose if they prefer short-term lending strategies (with less interest) or long-term lending strategies (with more interest).
SmartCredit.io does in-the-background automated matching of borrowers’ loan requests with lenders’ fixed-income funds. But not only this, SmartCredit.io monitors the loan, and if the borrower is not paying or the borrower’s collateral value sinks too much, the loan is liquidated.
At the same time, SmartCredit.io’s aim is to develop into a Decentral Bank.
Decentral Bank functionality contains:
- Fiat conversions, on-ramp and off-ramp
The Decentral Bank functionality requires fiat-to-crypto and crypto-to-fiat conversions. That’s why this partnership is significant for SmartCredit.io — users will get the fiat-to-crypto and crypto-to-fiat functionality.
For example, users will be able to do the following:
Scenario 1 — Convert fiat to stablecoins and invest in a fixed-income fund
- User will transfer fiat funds via a bank account.
- User will receive stablecoins and create a SmartCredit.io fixed-income fund.
- User will earn SMARTCREDIT rewards for lending and interest from borrowers.
- User can claim his SMARTCREDIT rewards, withdraw funds from a fixed-income fund, and convert the funds back into fiat on his bank account.
Scenario 2 — Borrow stablecoins and convert to fiat
Crypto holders can:
- Borrow stablecoins against their collateral
- Convert stablecoins into fiat on their bank account
- Use fiat on their bank account to pay the utilities, rent, and other bills
Both scenarios will have minimal conversion fees for users.
Why Is This Partnership Significant for Mt Pelerin?
Mt Pelerin has two key benefits from our partnership:
- Mt Pelerin will gain additional users via this integration.
- Mt. Pelerin will now have real-world economical use cases met by their fiat on/off ramp solutions.
- Mt Pelerin website
- SmartCredit.io website
- SmartCredit.io Application
- How to earn with SmartCredit.io?
- SmartCredit.io launches Credit Lines, Staking and Bonus Rewards
- SmartCredit.io announces upcoming Standard, Pro and Pro Plus users