ASMX, the blockchain based solution to trade private debt, is taking Peer to Peer (P2P) lending platforms to the next level by connecting lending and borrowing communities around the world.
Embracing new technology to connect people
Recently admitted on to the Gibraltar Blockchain Exchange, ASMX is well underway with developing the innovative blockchain technology with the ability to be seamlessly integrated into existing lending platforms.
ASMX aims to enhance a multi-million trading and online lending ecosystem. Currently, regulations specific to jurisdictions and high settlement costs limit access to loans between markets and therefore limit portfolios and the number of lenders borrowers could potentially have access to. The use of Blockchain technology and cryptocurrencies overcomes these barriers.
David Bradley-Ward, CEO of ASMX, commented: “The essence of Blockchain technology is collaboration and community, and this is what we want to build with ASMX. A collaborative network of people that can support each other and benefit from each other all around [the] world.”
Blockchain, the perfect fit
A unique feature to the online lending industry, ASMX will utilise Distributed Ledger Technology (DLT), tokenisation and smart contracts to facilitate P2P trading of private debt between separate platforms.
The first platform to partner with ASMX is Ablrate, a UK based asset-backed lending platform looking to expand its reach and business opportunities for its 4000 advocates.
Since its launch, Ablrate has facilitated over £44 million+ deals as well as £31 million+ on the secondary market. Borrowers benefit from easy access to funds, while lenders reap financial rewards with average returns of 10 to 15%. Its success has given Ablrate an international ambition, which can only be fulfilled using the AMSX technology.
An experienced team to lead to success
ASMX has gathered great talent in its team, including Wayne Sharpe, the founder of Australian business Bartercard as an advisor. Wayne Sharpe commented: “I think ASMX will become an essential resource for lending platforms throughout the world. If you run a lending community, why would you not want to be able to access the kind of liquidity that ASMX could create on a global basis? I can see many uses of ASMX beyond the initial integrations of online lenders and balance sheet lenders”.
David Bradley-Ward, who was recently named one of the UK’s 50 most influential people in P2P Finance1, concludes: “I have surrounded myself with very skilled, credible and trustworthy people. They fully believe in the project and I am thrilled to have built such a great team.”
ASMX is currently conducting a private token sale and aims to fully integrate into existing P2P lending platform, Ablrate, by Q1 2019. ASMX is compliant in its token sale with a high level of due diligence and legal approvals.