This time last year, the team at Mode came together to build the next-gen ecosystem of products and services that would help accelerate the world’s transition to a truly digital financial system. Today, we are just a few weeks away from announcing the launch of our first product: crypto-backed loans for businesses.
With this solution, we are introducing the most flexible crypto-backed business lending proposition to the marketplace. And so we did. Our lending solution is flexible, business-first and helps companies who hold crypto assets alleviate their financing needs by leveraging the value of their holdings. It offers loan terms of up to 90 days with further extensions possible and can be repaid at any time without incurring any fees.
Our solution provides companies that hold — whether through direct purchase, investment or as payment from clients — with the opportunity to access the capital they need to run their business operations while maintaining full ownership and 100% of digital asset profits should the assets’ price increase.
We have built an intuitive browser-based loan management platform where can apply for a loan in under 7 minutes, make crypto deposits and monitor their portfolio’s performance. Funds are expected to reach applicants’ bank accounts within twenty-four hours. Initially, the loans will be offered in Pounds (£) and Euros (€) and will be backed by () and Ether (ETH), with support for more crypto assets and fiat currencies to be rolled out in the coming months.
Alex Ryvkin, CEO of Mode, said, “Holders of both traditional and digital assets are demanding solutions that mix the best of both old and new finance. This is where Mode enters the equation. We trust that our approach will enable us to create a reliable environment that makes lending, investing and borrowing safer for everyone”.
He also added, “Today, most crypto-backed lending solutions in the market are created with retail in mind. This is why we chose to design a product that caters to the needs of companies in the ecosystem, ensuring they have equal access to the capital that will help them successfully grow their business and further advance the tokenised economy.”
Mode’s launch offer 🚀
As part of our launch campaign, we are offering early access rates to who sign up before June 15.
- Loan amount: No maximum, from £1,000
- Loan offered in: Pounds (£) and Euros (€)
- Crypto accepted: bitcoin (BTC) and Ether (ETH) — Support for more digital assets in the coming months
- APR: 12% compounded daily
- Loan-To-Value: 60% for BTC and 50% for ETH
- Loan term: Up to 90 days with possible further extension
- Origination fee: 0%
- Early repayment fee: 0%
Calculate your business loan 🔢
Find out how much you can take out with your crypto assets by visiting our website:
Personal loans coming soon 🎉
We believe that everyone should be able to unlock the value of their assets. That’s why, in just a few months, we will be rolling out our mobile app for individual !
Through the app, personal can apply for a loan anytime/anywhere, get a Mode Card to spend their funds, and monitor their day-to-day transactions.
Join our early access list to enjoy exclusive perks and benefits only available to early subscribers. Sign up .
Published at Wed, 15 May 2019 11:19:31 +0000
