AltLending Inc. has launched a beta version of its new lending platform that allows companies to use cryptocurrencies as collateral to borrow US dollars. Potential borrowers will be able to apply for access at https://www.altlending.com.
NEW YORK, June 26, 2018 /PRNewswire-PRWeb/ -- AltLending Inc. has launched a beta version of its new lending platform that allows companies to use cryptocurrencies as collateral to borrow US dollars. AltLending is a subsidiary of Dominion Capital, a New York City based investment firm. AltLending is currently piloting the beta product with select clients leveraging Bitcoin and Ethereum as collateral. Potential borrowers will be able to apply for access at https://www.altlending.com.
AltLending's platform will allow companies to leverage their blockchain assets to borrow US dollars. The platform currently allows clients to use Bitcoin and Ethereum as collateral with other crypto currencies expected to follow in future releases.
Currently the platform offers simple interest-only loans, and maturities between 6 to 12 months. In the future AltLending will offer additional products such as amortizing loans and flexible credit lines.
AltLending brings years of finance and technology expertise to the blockchain space. Our parent company, Dominion Capital, has been active in many traditional areas of capital markets, including equities and bonds trading, public structured credit, venture capital, and real estate. Unlike most other lenders in the space, we are not a peer-to-peer lender. Having access to institutional capital means borrowers don't need to wait days or even weeks to receive a loan.
Select clients are being invited to onboard to the beta platform now at https://www.altlending.com. Public release is scheduled for Fall 2018.
"Our team has been involved in capital markets for almost a decade now, and blockchain technologies, along with cryptocurrencies, provide an amazing new way to transfer assets and store value in this digital age. Last year we've seen a large number of companies come our way requesting loans backed by blockchain assets. Some have done an ICO and are looking for working capital, some are miners that need to finance their operations, and others are early adopters in need of funds to act as a bridge to large purchases. There is tremendous demand in the market for large loans and high-quality institutional level service. We are very excited about the opportunity to help blockchain holders unlock value without selling the underlying blockchain asset and obtain liquidity through AltLending." Mikhail Gurevich CEO AltLending.
Alt Lending is an institutional lending platform that makes U.S. Dollar loans secured by existing blockchain assets of their borrowers (initially BTC and ETH.) The core team is comprised of veterans that have successfully built technology startups, worked at large financial institutions, built and operated strong compliance and regulatory programs and transacted in over a $1 billion in direct principal investments. Alt Lending builds on Dominion Capital's and its teams' experience in originating and managing loans, conducting risk management, setting up best practices, and helping businesses scale.
To learn more about AltLending please email us at contact(at)altlending(dot)com