The Capital
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The Capital

SIA, A Leading European Company In Partnership With Fintech Wizkey Plans To Launch Ethereum-Based Platform To Negotiate Credits On Blockchain

SIA, a leading European hi-tech company in payment services and infrastructures, controlled by CDP Equity, plans to launch an Ethereum-based platform to negotiate credits on blockchain in the second half of 2021.

The initiative aims to make an ecosystem where the players in the financial sector like banks, funds, and financial operators can negotiate credits on blockchain and promote greater liquidity to the benefit of SMEs.

In a separate statement, a spokesperson for SIA said the company plans to test the Ethereum-based platform in the second quarter of this year, with a full-scale launch expected in the second half of the year.

The new platform is being developed in collaboration with the fintech startup WizKey. The company, headquartered in Milan, creates financial solutions with a focus on structured finance products, as well as on the management and transfer of loans.

With the help of the blockchain, SIA intends to provide financial operators with instant and secure access to loan portfolios, as well as to basic data and documentation.

“Certification of information and workflow through blockchain provides all secondary market buyers with confidence. They will know that the data is consistent and certified, and this will increase the speed of transactions and the liquidity of the market,” said a spokesperson for SIA.

The CEO and founder of WizKey, Marco Pagani, said:

the project on the blockchain aims to create “a transparent, liquid and efficient secondary market for non-performing loans, which will benefit the entire system of the country.

Daniele Savare, Director of Innovation and Business Solutions at SIA, also said that the project will be developed in a standardized manner in accordance with European regulations.

Originally published at https://thecryptobasic.com on January 29, 2021.

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