Cryptocurrency finance is considered the future of Fintech and a viable alternative to the conventional banking system. P2P finance and lending is a part of this amazing development as it allows investors to leverage their money directly to borrowers with safe backing and cushioning of risks involved. But, while the idea is incredibly useful for the future, it has not been transformed into a practical system as of yet. Many startups are competing and it is resulting in a movement toward an ideal P2P system of banking.
QUOINE is a global fintech group that provides trading, exchange and other services to its clients. The company was one of the very first financial companies to adopt blockchain and they did it legally. Its cryptocurrency exchange QRYPTOS remains the only exchange in the world that is licensed by the Japan Financial Services Agency, which is the equivalent of the Securities and Exchange Commission (SEC) in USA. The company has offices in Japan, Singapore and Vietnam with considerable sway in the Far East markets. It has recently announced that its partner Etherecash, an up-and-coming P2P cryptocurrency and lending platform is now successfully listed on its QRYPTOS digital exchange following a successful crowdfunding campaign.
Etherecash is a complete financial platform with a three pronged strategy at enabling/capturing the decentralized lending sector. It includes:
A P2P lending service.
A fast global money transfer system
A crypto debit card.
The platform allows borrowers to leverage their existing cryptocurrency assets to secure fiat loans. The digital assets are locked in place until the borrower returns the money with interest according to the terms agreed with the lender (which are totally in his control). Etherecash uses Blockchain technology and Ethereum’s smart contracts to enforce the protocol and ensure full transparency and security for all users involved. It is an entirely new financial ecosystem that has the power to disrupt the financial industry around the world with innovations and decentralized strategies. Etherecash was successfully listed on QRYPTOS exchange on 6th February 2018 and the two have also signed a strategic partnership.
The Etherecash TGE is now closed, however during the sale, the company successfully raised over $40 million worth of funds in the form of fiat and cryptocurrency. The company is currently testing their beta version of the platform and are developing mobile apps in anticipation of the release. Their multi-purpose Crypto debit card is also in alpha testing stage according to the latest news.
Visit the Etherecash Official Website – http://etherecash.io
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