Atlendis revolutionizes unsecured loans in the world of cryptocurrencies

2023-05-16 10:15:52

• A Polygon-based unsecured lending platform, Atlendis, launches its latest version with new features and a key crypto onramp.
• Atlendis addresses a key weakness in the world of cryptocurrencies by offering loans without the need for collateral, unlike other projects that require excessive collateral.
• The latest version of Atlendis includes flexible loan times, increased borrower due diligence, and a Know Your Customer (KYC) option to comply with regulations.

Atlendis is a Polygon-based unsecured lending platform that has released its latest iteration – Atlendis Protocol V2. This protocol offers lines of credit for institutional borrowers and allows users to act as pool lenders, earning interest payments and additional DeFi rewards.

One of the key weaknesses that Atlendis addresses in the world of cryptocurrencies is the lack of unsecured loans. Unlike other projects like Aave or MakerDAO, which require excessive collateral, Atlendis offers loans without the need for collateral, just like a traditional bank.

Features and improvements of the latest version of Atlendis

The platform launched its first version, V1, in July 2022, and has since accumulated loans totaling $6.3 million to approximately 5,800 unique lenders.

The latest version de Atlendis introduces new features, such as flexible loan times that allow borrowers to roll over loans to later periods. In addition, due diligence of borrowers has been enhanced and a Know Your Customer (KYC) option has been added for specific groups, in order to comply with regulations.

The vision of Atlendis and the words of the CEO

The CEO and co-founder of the project, Alexis Masseron, stated that Atlendis continues to improve its protocol to simplify access to DeFi for both borrowers and lenders.

The goal is to make funding more accessible to real-world businesses and unlock new performance opportunities for liquidity providers.

With these improvements, Atlendis seeks to facilitate access to decentralized financial services and promote the growth of the crypto economy.

Banxa in Atlendis

Banxa’s credit line in Atlendis will be used exclusively to finance the growing liquidity needs that support the significant growth in daily transaction volumes. Banxa’s management team ensures a clear separation between operating expenses and liquidity needs.

Masseron was excited to welcome Banxa, a prominent publicly traded cryptocurrency company, as the first borrower on Atlendis V2.

Domenic Carosa, founder and president of Banxa Holdings, highlighted that Banxa is strategically focused on long-term sustainability and is excited to collaborate with Atlendis to secure additional working capital for its liquidity needs.

This partnership allows them to provide exceptional service to their growing customer base in this crucial phase of the company’s growth. Carosa also mentioned that as a publicly traded company, Banxa meets strong regulatory, compliance and reporting standards, providing an additional layer of protection for Atlendis fund lenders.

He highlighted Banxa’s dedication to sustainable growth and delivering exceptional value to its stakeholders, which is reinforced by its collaboration with Atlendis.

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