FintruX Network: Making Unsecured Loans Highly Secure
The FintruX Network has been established to transform unsecured loans to highly secured loan without any hurdles to borrowers and investors. The platform has unique blockchain approach of global P2P lending highways which proposed to raise $30 million by selling digital tokens.
Since unsecured loans are those that are not secured by any asset, traditionally lenders incur more risk which eventually demands higher interest rate. This company is changing that.
FintruX Network is backed by Robocoder Corporation which was established in 1999 and builds mission-critical securitization software for financial institutions and accredited investors, managing several billions of dollars of assets.
FintruX Network is an automated administration platform that streamlines lenders, borrowers, service agents to generate borrower contracts in real-time. FintruX Network is a blockchain-based online marketplace that stabilizes the global supply and demand of capital. It eliminates manual processes through automation and increase user’s borrowing and lending experience.
According to the CEO of FintruX, Nelson Lin:
“Interest cost reduction is one of the most important motivations in securitization. It is often done via credit enhancement. We can apply the same principles to reduce the high-interest rates normally associated with unsecured loans, making it attractive to both borrowers and lenders.”
He further explained, “our goal at FintruX Network is to disrupt the way unsecured loans are being originated and administered.”
The FintruX Network aims to enhance credit enhancements by introducing cascading levels which involves:
- Additional collateral
- A local third-party guarantor
- Fintrux ultimate protection reserve
By harnessing credit enhancement, the firm aspires to neutralize the uncertainty and further cover the loss. In order to construct and create individual borrowing in real time, the FintruX Network generates a smart contract. By deploying, it prevents arbitration, and is immutable, unambiguous and ensures censorship-resistant records. Besides these features, the automation platform has instant matching that provides self-serve functionalities including refinance and prepayment.
About the FintruX ICO
The platform is announcing its Pre-ICO sale with a bonus of 10 percent on January 7, 2017, which will end on January 21, 2017. The token will have a maximum supply of 75,000,000 FTX. Further, FintruX is following a unique bonus tier system for its Pre-ICO and ICO token sale with diminishing bonuses per contribution tier.
Sign up for their whitelist to be the first to participate!
FintruX widens its network from the borrowers and lenders to third-party guarantors and countless specialized agents. Conrad Lin, the co-founder and CMO of FintruX stated: “we are making borrowing and lending a no-brainer for both borrowers and investors.”
You can find out more about the project via their whitepaper.