PWN is building a peer-to-peer lending and borrowing platform for loans secured by illiquid digital assets. The Zug-based start-up closed a seed round with business angels.
The category of illiquid digital assets is rapidly growing. These include NFTs and exotic and low-cap tokens based on the ERC20 standard for the Ethereum blockchain. PWN is building a peer-to-peer lending platform to service this growing market. Use cases include NFT collectors looking to leverage their portfolio to buy an asset or traders looking to exploit market opportunity in need of short-term liquidity. Market launch is planned for Q1 2022.
The company raised a $1 million seed round from Swiss based Dialectic along with some other industry angels, including Patricio Worthalter, Tim Beiko, Will Harborne, Kenneth Ng and Chris Waclawek.
The team is currently focused on the creation of power users by providing detailed support, guidance on using the platform, and bespoke over the counter (OTC) deals. In addition, PWN is working on innovative features such as the PWN deed token. This feature is an NFT representation of a loan on PWN and enables features such as a secondary market, indexes, and the potential base for advanced financial derivatives.
(Press release / SK)
0Comments
More news about
Please login or sign up to comment.
Commenting guidelines