HONG KONG, CHINA--(Marketwired - Sep 26, 2013) - UNWALL INTERNATIONAL INC. (
The financial markets have been preparing for the tapering of the Fed's quantitative easing policies and bankers also warn that the borrowing costs are going to rise. Unwall believes that the timing is right for UWII to prepare for a launch of a new service: digital lending services focused on Unwall's Asian market.
Digital lending or social lending, as its name implies, is the practice of lending money to unrelated individuals, or "peers," without going through a traditional financial intermediary such as a bank or other traditional financial institutions. This lending takes place online on websites using various lending platforms and credit checking tools.
Mr. Tesheb Casimir, Unwall's Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer, commented: "Our digital lending platform should have an advantage over our competitors in our core Asian markets drawing on our existing customer database from our social network site. This should be of great interest to our members both as borrowers and as lenders."
According to Financial Times, the digital lending market will be worth $1.6 billion (£1billion) by 2016 http://www.ft.com/cms/s/0/28bf596c-eafb-11e2-bfdb-00144feabdc0.html#axzz2f7uhltrx and there is huge potential for emerging markets like Asia.
Casimir further commented, "We are still calculating but believe our initial seed money into this program will be seven to eight digits USD. And once we get listed on a major stock exchange, such as NASDAQ Capital Market Main Board, we plan to invite interested investors to co-invest with us."
Countries like the United Kingdom allow peer-to-peer lending without a specific lending license but most places, including Asian financial center Hong Kong, require a specific lending license to conduct the lending business. "We have already reached preliminary agreement with a licensed money lender in Hong Kong to start our digital lending business but in the longer run, we intend to apply for a license ourselves," Casimir said.
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