Union Finance will enable folks and organisations to take out loans on the blockchain with out the necessity for collateral, a credit score rating, or revealing private info on a public ledger
() revealed that it has invested US$75,000 into Union Finance, a credit score mutual constructed on Ethereum.
The blockchain and cryptocurrency investor mentioned Union Finance will enable folks and organisations to take out loans on the blockchain with out the necessity for collateral, a credit score rating, or revealing private info on a public ledger.
READ: KR1 unveils new investment in Acala Network
KR1 added that it’s going to obtain a yet-to-be-determined quantity of discounted tokens from its participation within the seed spherical.
“With round US$1bn locked up within the [decentralised finance] ecosystem, it has grown significantly prior to now 12 months, and we anticipate it to develop additional. Union is strictly the kind of DeFi undertaking KR1 likes to again”, Keld van Schreven, KR1 managing director and co-founder mentioned in an announcement.
“[Union Finance] is a brand new, modern platform to open up uncollateralised lending to everybody and represents a paradigm shift for DeFi. [Union Finance founder Jacob Shiach] is re-imagining uncollateralised lending and Union leverages the facility of Ethereum to unlock a wholly new space of the decentralised finance ecosystem”, he added.
Shares in KR1 have been valued at round 4.8p in early buying and selling on the Aquis change on Friday.
