Dltledgers launches platform for alternative financing

FinTech dltledgers officially launched its SmartFIN program, which uses a blockchain-based system to connect microenterprises and small and medium-sized enterprises (SMEs) seeking commercial financing with non-bank lenders.

The Singaporean company said on its website that a potential borrower can enroll in the SmartFIN system within 24 hours and then begin the process of obtaining a loan at rates that dltledgers say are lower than those. more classic channels.

Once registered, the potential borrower displays their financing needs. Then the dltledgers’ website said, “Sit back and let SmartFIN do the work for you. The financiers will contact you within hours. You choose the financier who best meets your needs. And that’s all. It’s that simple.”

Dltledgers added, “One connection for any merchant to use scalable global technology and legal infrastructure to meet all of your working capital and trade finance needs with just a few clicks of a button… Ask for the best rates for each transaction. Connect your existing business flow hassle-free and enter it on the spot. “

World Trade Review quoted a spokesperson for dltledger as saying, “On SmartFin, [SMBs] can compare finance rates and also see which lenders on the platform specialize in lending to particular industries, such as copper, cotton, or sugar. “

Global Trade Review further quoted the dltledger spokesperson as saying, “The whole game here is about how we leverage blockchain technology not only for large corporations, commodities players and banks, but also for [SMBs]. This is one of the use cases of the [SMB] perspective. Eventually, we expect banks to join us as this is another use case where banks can validate all documents on a [SMB] before financing their business.

In addition to Singapore, dltledgers lists offices in India, United Arab Emirates, Tokyo, New Zealand and Thailand.

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