Alex is an entrepreneur with 7-years experience in Finances and IT.
He specializes in international payment solutions, organization of accepting and processing payments in high-risk industries.
Absorbed into fintech and blockchain technologies.
CoinLoan is an innovative lending platform where cryptoassets are used as collaterals.
CoinLoan allows a cryptocurrency holder to get a loan in fiat currency with their crypto asset held as collateral. Before the end of the term of the loan, the borrower’s security deposit remains in the CoinLoan system. Once the loan and interest are paid, the pledged asset is returned to the borrower.
In the traditional collateral scheme, the lender must verify the borrower’s solvency, arrange an assessment of their collateral, and hold the borrower’s assets. All of these costs are passed on to the borrower in the form of the interest rate.
CoinLoan, by contrast, guarantees repayment of funds in full along with interest for using the loan. The lender is relieved of the usual actions and risks. The borrower, in turn, receives a lower interest rate and does not have to sign papers, go to an office and wait in line for a property assessment. The borrower can receive funds via SWIFT, SEPA, instant transfer or bank card.