Zivoe raises $8.35 million to launch blockchain credit protocol, connecting liquidity with borrowers.

From Investing.com

July 18, 2024 05:00:24 AM:

Zivoe, a Real-World Asset (RWA) credit protocol, secures $8.35 million in funding with investors like Andrew Keys and Iceberg Capital. The platform launches its blockchain credit protocol on July 31, aiming to provide easier access to credit by connecting on-chain liquidity with real-world borrowers.

In the short term, Zivoe plans to issue on-chain loans through a regulated lending partner to offer consumers better interest rates. Long-term goals include directly engaging with consumers to bridge the gap between on-chain finance and traditional financial systems.

Founder Kristal Gruevski expresses gratitude for reaching this milestone and introducing an innovative solution to the lending industry. The upcoming ITO will grant DeFi users access to the consumer credit market, marking the beginning of blockchain technology merging with real-world lending to benefit underserved individuals globally.

Zivoe’s tokenization of real-world assets aligns with the growing trend in the crypto space. By bringing tangible assets onto the blockchain, securitized loans can simplify processes, reduce administrative costs, and expand investment opportunities for a wider investor base.

The platform’s Initial Tranche Offering (ITO) will start on July 31, offering liquidity providers the chance to deposit stablecoins into different tranches and receive Tranche Tokens. These tokens provide exposure to Zivoe’s loan portfolio and can be staked for yields from real-world consumer loans.

Participants in the ITO will receive $ZVE tokens, the platform’s governance and utility token. These tokens will be airdropped as a reward for engaging in Zivoe’s governance framework. The ITO is scheduled to run for 30 days starting on July 31.

Read more at Investing.com: Zivoe raises $8.35 million as it prepares to broaden credit access By Investing.com