Lendingblock, an institutional platform for collateralised cryptocurrency lending, recently partnered with Octagon Strategy Limited, a digital asset brokerage firm.
Octagon Strategy, Asia’s leading digital asset brokerage, will be partnering with Lendingblock, an open exchange for cryptocurrency loans. As part of the deal, Octagon Strategy will be joining the Lendingblock Institutional Advisory Group to trial and launch their Lendingblock platform which is designed for the real-time exchange of fully collateralized, cross-chain borrowing and the lending of cryptocurrency assets.
Lendingblock provides a transparent and open exchange for real-time cryptocurrency loan trades. The platform utilizes state-of-the-art technology and infrastructure to provide a wide range of features and access to the growing cryptocurrency asset market. Lendingblock is a relatively new startup that was funded by $10m that was raised successfully in April 2018 through an ICO funded by private and institutional investors. This puts the company in a great position to expand their operations and grow. By collaborating with a larger and more well-known digital asset brokerage, Lendingblock can gain exposure and be able to work with more global market participants such as traders, exchanges and brokers.
Steven Swain, CEO of Lendingblock, had these words to share regarding the partnership “I’m delighted to announce that we have the support of one of the largest cryptocurrency brokerage firms in the world. Octagon Strategy has established itself as the go-to institutional brokerage for the cryptocurrency market, and brings extensive industry expertise and unique market insight that will be invaluable leading up to our launch later this year. There’s a great compatibility between the Lendingblock and Octagon Strategy teams, as we are fully aligned in our aim to create the highest standard of financial services within the cryptocurrency space.”
The CEO of Octagon Strategy also had their own thoughts to share on the partnership. Wayne Trench said “Securities financing plays a vital role in efficient capital markets, but barely exists for digital assets. We’re very pleased to be working with the innovative team at Lendingblock as they bring the securities lending model to the digital assets economy. They are a team who understand institutional needs, and clearly have the experience and expertise to deliver. We look forward to working together to fill this gap in the market.”
The partnership will make new waves in the cryptocurrency trading industry and you can expect to see major developments within the upcoming months. An open exchange for cryptocurrency loans is a relatively new idea that has a lot of promise. Lendingblock is a fairly new startup, but it has already received positive media coverage from renowned sources such as Forbes and AltFi. The concept of securities lending in the cryptocurrency economy is new, but hopefully, this partnership with Octagon Strategy will introduce new ways of utilizing cryptocurrency in the alternative finance industry. With over 5,000 users on a waiting list to use Lendingblock for the first time, this partnership with Octagon Strategy Limited will serve as a huge turning point for Lendingblock and their mission to become the end to end financing vehicle for the cryptocurrency economy.