Kyiv, Ukraine, Aug. 05, 2024 (GLOBE NEWSWIRE) — The innovative P2P platform LendPal is, without exaggeration, a new phenomenon in the world of cryptocurrencies, establishing a separate segment in the crypto-lending market. The terms of transactions in this segment will depend solely on the supply and demand ratio of lenders and borrowers who are LendPal clients.
Unlike existing crypto-lending services, which directly mimic traditional banking, the P2P platform LendPal allows any individual from the global community to engage in financial interactions with any other individual for creating a loan agreement.
On the LendPal platform, any individual or legal entity with temporarily free funds can lend them under the security of highly liquid cryptocurrency assets on their own terms and receive a reward. Likewise, any individual or legal entity in need of borrowing funds and owning highly volatile crypto assets that they do not plan to part with can get a loan on their own terms.
The opportunity to participate in the LendPal lending market is limited solely by access to the Internet.
LendPal P2P platform clients can choose offers from other users. If there are offers that meet their needs, transactions are conducted. If such offers are not available at the moment, clients can submit their own offers, which will be instantly accessible to other clients.
LendPal Platform:
- Creates custodial wallets (suitable for daily payments) for clients, into which crypto assets designated for lending and collateral are received and stored.
- Formalizes the relationships between borrowers and lenders.
- Controls the fulfillment of obligations under agreements.
- In case of non-fulfillment of obligations by the borrower, realizes the collateral and settles the debt according to the terms agreed upon by the parties to the agreement.
In the era of globalization, the spread of horizontal connections is an irreversible and inevitable process that encompasses all spheres of life. We observe the development of this process in the financial sector, particularly in the field of crypto-lending.
The LendPal project corresponds to this trend by creating a reliable and transparent tool for ensuring financial interactions between people, which should be duly appreciated.
Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.
