Íø±¬³Ô¹Ï

Home   News   Features   Interviews   Magazine Archive   Symposium   Industry Awards  
Subscribe
Íø±¬³Ô¹Ï
Leading the Way

Global Íø±¬³Ô¹Ï Finance News and Commentary
≔ Menu
Íø±¬³Ô¹Ï
Leading the Way

Global Íø±¬³Ô¹Ï Finance News and Commentary
News by section
Subscribe
⨂ Close
  1. Home
  2. Technology news
  3. Digital bank EQIBank launches DeFi platform for lending crypto
Technology news

Digital bank EQIBank launches DeFi platform for lending crypto


10 August 2021 Dominica
Reporter: Alex Pugh

Generic business image for news article
Image: stock.adobe.com/BillionPhotos.com
EQIBank has launched EQIFI, a unified platform for DeFi products, designed to overcome traditional banking issues and make the lending and borrowing of cryptocurrencies and certain fiat currencies more accessible.

EQIFI is a decentralised protocol for pooled lending, borrowing and investing Ethereum-based cryptocurrencies, stablecoins, and select fiat currencies. Its new DeFi platform comprises newly introduced fixed- and variable-rate lending products, as well as an advanced yield aggregator and interest rate swaps.

These new products simplify DeFi, EQIBank says, consolidating a range of services into a single user-friendly platform, and are designed to address shortcomings within traditional banking, such as high fees, outdated technology, obsolete pricing models and expensive cash handling.

Run by holders of the platform's native EQX token, EQIFI operates under a decentralised ethos, giving community members the power to make important decisions regarding the project's future, such as listing and delisting assets and tokens, adjusting interest rates, modifying collateral limits and pausing loans or deposits.

EQIFI CEO Brad Yasar says: “Through blockchain technology, EQIFI democratises financial products previously only available to a select few, and we are confident that EQIFI is best positioned to bring these products to clients who want to embrace the evolution of digital banking, in an accessible and regulated manner.â€
← Previous technology article

EQONEX Group launches EQONEX Lending
Next technology article →

DTCC upgrades CDS Kinetics platform
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Íø±¬³Ô¹Ï Finance Times
Advertisement
Subscribe today
Knowledge base

Explore our extensive directory to find all the essential contacts you need

Visit our directory →
Glossary terms in this article
→ Collateral
→ Yield

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →