WEST HARTFORD, CT / ACCESSWIRE / November 30, 2021 / New Silver hit a record milestone recently for bridge loan securitization when they reached the $20 million mark in partnership with Centrifuge and MakerDAO.
New Silver is a short-term bridge lender, providing fix and flip investors in the US the "operating system" for doing business, where they can find the most profitable projects using FlipScout, and have them financed within days. The company has their sights set on bringing real-world assets to decentralized finance. In a partnership with MakerDAO and Centrifuge to securitize real estate loans in April of 2021, New Silver was the very first real-world asset to be approved for and on-boarded by a DeFi (decentralized finance) protocol.
New Silver recently hit a $20 million securitization milestone and is currently the largest known securitization involving a DeFi protocol and a real-world asset (RWA). This firmly puts RWA on the map and makes DeFi 2.0 a reality.
"We are beyond excited to partner with MakerDAO and Centrifuge to continue to integrate real-world assets deeper into the DeFi ecosystem", says Kirill Bensonoff, New Silver's co-founder and CEO. "We are looking forward to building more technologies to give real estate investors the tools they need to continue to thrive."
Centrifuge is the platform that connects real-world assets to decentralized finance (DeFi). The model is faster, more cost-effective, and more transparent than traditional finance. Investors get a higher rate of return on their capital than they would through traditional investments and organizations can borrow at a lower rate, whilst eliminating intermediaries. Centrifuge is already live, with almost $50 million Total Value Locked.
Lucas Vogelsang, CEO and Co-Founder of Centrifuge states, "More businesses are exploring DeFi to get money quicker, on their own terms, and without having to go to a bank. Realizing DeFi was the solution, New Silver started using Centrifuge and became the first pool to onboard with MakerDAO. This collaboration shows how DeFi is moving to create a more open and fair financial system for everyone."
By providing the DeFi platform for credit financing, Centrifuge addresses both the volatility and stability concerns typically found in crypto. Centrifuge brings stable credit financing to DeFi and enables more transparency and lower cost of capital to everyone globally.
New Silver originates the loans using residential real estate in the US as its collateral, and the securitization protocol is provided by Centrifuge, which handles the bundling of loans into pools, onboards investors, and issues tokens against the pool, with the protocol MakerDAO participating as the largest liquidity provider.
New Silver projects to have 100% of their lending securitized on the blockchain, to provide fast liquidity, transparency, and to create the ability to democratize these investment structures to accredited investors across the world.
About New Silver Lending LLC:
New Silver is a technology company that provides fast financing to real estate investors who focus on fix and flip residential projects. New Silver's proprietary software accelerates, automates and streamlines loan originations, while using data to reduce default risk. Furthermore, New Silver's FlipScout tool uses intelligence in order to help find real estate investment projects with the highest ROI.
Kirill Bensenoff New Silver Lending, LLC
2475 Albany Ave Suite 203B, West Hartford CT 06117
(855) 844 5626
SOURCE: New Silver Lending LLC