Founders of Cereal Introduce a Suite of Products that Cater to the Individual Needs of the Cryptocurrency Market Participants
CAYMAN ISLANDS / ACCESSWIRE / May 25, 2018 / Cereal, an asset-based lending platform, today announced an initiative to build a decentralized lending platform based on the blockchain technology. According to its founders, Cereal is poised to disrupt the asset-based lending market by introducing a suite of next-generation products secured by blockchain-based assets and mining equipment. The emerging cryptocurrency-asset-based lending market is estimated at $30 billion, according to a financial service company, Unchained Capital, the pioneer in the cryptocurrency-secured loans.
"In the cryptocurrency market, asset-based loans are basically non-existent. Today, holders of cryptocurrencies and cryptocurrency-related assets often have to choose between maintaining their investments and cashing out to fiat money to meet their day-to-day financial needs or cover the operating costs of mining rigs, buying new equipment, and funding future maintenance," said Sergey Vart, Cereal co-founder, and CEO. "Cereal will adopt blockchain to streamline complex, often subjective scoring procedures, ensuring a high level of security and building trust among the cryptocurrency market participants. With the Cereal platform, we aim to create an ecosystem of high-quality and affordable loan products for the crypto community."
According to the founders, Cereal is evolution, not revolution, to the loan market. By design, its visionary blockchain-based platform will directly connect cryptocurrency enthusiasts, financial companies, investors, retailers, and manufacturers. Apart from it, the Cereal token will power a universal loyalty program framework with a system of financial incentives for all participants.
"Cereal will evolve into a next-generation asset-based lending network - a true value creation mechanism for the crypto market that operates on a global scale," - added Sergey Vart.
For more information, visit https://cereal.cryptonomos.com
About Cereal
Cereal is a new generation asset-based lending platform with fiat money and cryptocurrency support. The platform is set to reinvent and gamify cryptocurrency-secured loans with the development of a loan network for cryptocurrencies and cryptocurrency-related assets holders.
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