Blockchain-Based Lending Platform, Cereal, Readies for the $20 Million Public Sale of CRL Utility Tokens

Jun 26, 2018 at 10:32 // News
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Cereal public sale

Cereal – a next-generation platform for cryptocurrency-secured loans – will cater to crypto miners and provide them with the funds that are needed to purchase equipment and to cover operation costs.

Cereal, a visionary fintech platform, has announced the launch date of the CRL token public sale, commencing on July 15, 2018. With an aim to capture the emerging $30 billion cryptocurrency-secured loan market, Cereal was founded by Sergey Vart and is set to pilot in 2018. The platform will introduce users to enhanced liquidity and eased access to fiat money, by providing asset-based loans and directly connecting financial companies with crypto enthusiasts.

“With the adoption of blockchain technology, comes a chance to reinvent the traditional asset-based lending experience, streamline scoring procedures, and, eventually, empower the new wave of crypto enthusiasts. With the Cereal platform, we aim to create a decentralized asset-based lending network that will seize upon previously untapped opportunities for cryptocurrency market participants and will focus on cryptocurrency-secured loans together with loans secured against mining rigs. To power the platform, we have partnered with Giga Watt — the world's first full-service mining solution provider — prior to the start of the public sale,” – said Sergey Vart, Cereal co-founder and CEO.

According to the founders, Cereal’s loans will be issued in fiat currencies, which are still vital for buying new mining rigs and covering day-to-day operational expenses of crypto miners. In particular, Giga Watt's mining equipment will serve as loan collateral and private miners will act as borrowers.

“The Cereal token — named CRL — will power our blockchain-based lending platform together with the built-in loyalty framework. Both the platform and the framework will be open to various types participants who are willing to communicate directly with each other and their clientele – from financial companies to crypto investors, to retailers, to manufacturers. In fact, with the CRL token, we aim to open the emerging crypto-mining sector to millions of new crypto investors,” – added Vart.

To date, Cereal has nearly completed its private sale. Seeking to raise up to $20 million of funding, the firm will conduct the public sale of CRL utility tokens, starting July 15 and closing on August 30, 2018. Exchange rate is set at 1 ETH per 2,000 CRL (BTC, BCH, LTC, DASH, and ZECC are accepted as well).

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About Cereal

Cereal is a next-generation fintech firm. According to the founders, its blockchain-based lending platform is poised to introduce a new class of asset-backed loans for the cryptocurrency market and will potentially evolve into a global loan network, disintermediating the banks and providing specialized financial infrastructure for crypto enthusiasts, crypto miners, and investors on a worldwide scale.

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