Aave Lending Launches Blockchain SaaS, Cashare is First Partner into Asset-Backed Loan Industry
Cashare to Partner with Aave in Its Entry into the Asset-Backed Lending Industry
Aave, a technological company, based in Chiasso, Switzerland, released press news on 4th October 2018 indicating that it was launching a new service known as Aave lending. Aave is a tech company that has specialized in the development of hybrid and decentralized blockchain-based applications.
The new service known as Aave Lending is a SaaS solution that will be used in the collateralization of loans. Apart from launching the new service, the company has also managed to sign up its very first customer, Cashare.
Cashare is currently the leading and most popular P2P crowdlending platform in the country. It also has ten years’ experience working in the online lending environment. Aave lending is being touted as the very first solution using blockchain technology to provide borrowers and creditors with a lending environment.
The platform intends to use blockchain technology to ensure that its transactions are conducted in a fast and swift manner. By managing to keep its central functions, e.g., managing and storing collateral on the blockchain framework, expenses are kept at a minimum, while the speed of transacting remains high.
ETHLend is a pilot product of this software. So far, it has been able to generate more than $15,000,000 in lending volume since it was launched. According to Stani Kulechov, the CEO of Aave, ETHLend was able to pioneer decentralized peer-to-peer lending with its very first platform.
Together with Aave, they are looking to expand this vision by venturing into digital assets backed lending for both individuals and businesses. Partnering with Cashare is, therefore, being viewed as a good initial step for Aave Lending. This is mainly because of the fact that they are currently the largest and most popular lending platform in the country.
Aave Lending and Cashare
By collaborating with Aave Lending, Cashare users are now in a unique position to utilize their digital assets as collateral. They can use this collateral to apply for loans online. The technology from Aave lending has already been made accessible to creditors. This will help them get access to an entirely new set of digital assets class that comprises of individuals and companies.
These are two groups of people who are looking to leverage their digital assets to get access to loans. The solution is very easy to implement and can be used by any existing lender. The fact that it is easy-to-implement means it is scalable for the global market.
Michael Borter, the Cofounder and CEO of Cashare stated that there is no global service that has been able to combine the fiat-based world of lending, with the innovative and evolutionary world of blockchain technology.
It is the reason why he believes that its partnership with Aave Lending will make it possible for them to provide a more innovative solution. By providing crypto asset-backed lending in conjunction with the fiat loans, they will be able to provide investors with a unique chance to participate in the crypto universe.