ETHLend Blockchain Lending Platform Adds MyBit Token (MYB) in Partnership
ETHLend Will List MyBit’s Token After Signing Partnership
MyBit has decided to announce a centralized lending platform known as ETHLend which will be listing MYB tokens on its platform. The decision has been made after both signed a strategic partnership to improve their services and expand in the market.
MyBit is an Ethereum-powered ecosystem that aims to connect the global Internet of Things (IoT) industry. ETHLend works with the Ethereum blockchain as well and is a marketplace for peer-to-peer lending services that use smart contracts. The company provides low interest rates and a transparent technology for processing transactions.
Currently, it allows users to lend with Ethereum, but it may be ready to introduce new altcoins at the end of this year, including MYB.
MyBit is working in the IoT field and is trying to leverage the potentialities of distributed ledger technology. WIth MyBit’s decentralized investment platform – which can be accessed through MyBit DApp – it is possible to invest in revenue-generating IoT devices including, autonomous vehicles, 3D printers, drones and cryptocurrency ATMs, among many other things.
Just a week ago, MyBit was able to integrate with the Bancor protocol. Now, it includes all its DApps to increase liquidity. Moreover, it has also launched a new decentralized asset exchange, known as MYDEX, which trades stakes of IoT industry.
About the expansion that the company is doing, MyBit co-founder, Ian Worral, commented:
“Together with blockchain, there is another technological revolution on its way. It is predicted that by 2025, 50 billion IoT devices will generate an astonishing 11 trillion dollars in revenue.”
ETHLend is also working and generating very promising results. Back in April, the firm registered 12,000 ETH in lending volume, which is an important number. Additionally, the company is working in its project Alpha 0.3 (Kogia) in order to deploy it on the Ethereum Testnet. During the token offering that conducted the last year, the firm was able to gather $10 million dollars in just 30 minutes.