FXCE launched Digital Banking with P2P Trading in early June 2021 — the ideal spot to exchange FXCE Token. Later this year, the P2P LENDING platform will be released as another core service in Digital Baking.
Peer-to-Peer (P2P) lending is a trending solution in the credit market but associated with rigorous risk assessment and documentation. It necessitates cutting-edge technology that provides both borrowers and investors with flexibility and quickness. FXCE offers a solution built on an automation system that will streamline the lending cycle. FXCE’s users can benefit from effective and quick capital flow throughout our ecosystem. In the following piece, we will go over what FXCE P2P Lending deals with, how we do it, and why choose us among leading service providers.
FXCE P2P Lending — The bridge between credit demands
Simply put, FXCE P2P LENDING is designed to be an ideal place where users’ credit demands meet each other. Lenders can get extra passive returns besides savings and investing, while borrowers can quickly access appropriate loans with competitive terms.
As a comprehensive financial ecosystem, FXCE offers a great number of financial services that will stimulate dynamic capital flow. Therefore, we will witness identical credit demands within our ecosystem for trading expansion, investment pool participation, etc. Or some users need fast disbursement in order to pay bills, meet short-term business and financial obligations without affecting their trading accounts.
The platform will present all available loans, which could be short-term or long-term in the market or on the loan exchange. Many dedicated features bring about better preferential or interest-free loans that satisfy almost all customers’ needs.
Optional terms of lending
On the P2P LENDING platform, market loans are systematically offered by lenders and then agreed by borrowers. Therefore, lending terms are optional at their own discretion without 3rd party or FXCE’s intervention. It is also convenient to monitor and modify with real-time interest updated every 04 hours.
FXCE allows lenders to create specific criteria of the loan: type, interest rate, password, etc.
Loan types include Term Loan, Demand Loan and Installment Loan, each of which is suitable for different preferences and goals.
Interest rate, the main factor affecting the borrowers’ adoption, is set by lenders too. To attract borrowers, apart from lowering the interest rates, they can create interest-free short-term loans or mitigate long-term loan interest with a certain interest-free period. It will be a fair competition of interest rates among lenders, that helps prevent monopoly and achieve market equilibrium.
Setting a password is a feature to limit access to the loan. In actual practice, lenders may desire to offer exclusive deals to their team, their customers or anybody who they give the password to.
Why choose us
Various acceptable assets
FXCE will support a variety of lending assets and collateral assets. Users on P2P LENDING are able to borrow FXCE Token or USDT collateralized by other assets. Regarding collaterals, many other kinds of assets are also eligible. Depending on the kind of collateral, users can limit the risk of default or optimize the return by setting suitable Stop out or Leverage.
Forex trading accounts can be pledged as security for repayment of the loan. Shares of investment pool and VIP level are other available options. Other crypto assets, real estate and contest prize NFTs will be gradually updated to be collateral in the future.
Smart asset monitoring
FXCE streamlines the lending cycle by monitoring all assets and controlling their flows automatically. All collateral assets are available and transparent to pledge in the ecosystem. The system will instantly collect all fees such as prepayment penalty or rollover fee.
We completely eliminate the cost of traditional lending like Loan Appraisal Fee, Collateral Appraisal Fee, Management Fee, etc. This automation system also prevents popular risks of P2P loans including but not limited to overlending, incorrect disbursement, late payment and default.
Flexible loan settlement
The features to change loan parties are being developed to meet the demands of more users. On the loan exchange, borrowers can transfer loans if they do not have enough money to pay off. Other people can find and apply for low-cost loans, and then become new borrowers. In other cases, borrowers who desire more favorable loans can rollover loans in the lending market. To maintain competitiveness, lenders may offer appealing terms.
Now, start your own journey on FXCE’s P2P Lending: <Coming soon>.
Contact for support via email support@fxce.com or on telegram group https://t.me/fxceSTP.
