Altcoin Report - May 2024

RegFi play on a $1.6 trillion market

Today's altcoin forms the linchpin of a tokenized private lending platform, a play on a $1.6 trillion market for private loans.

Private lending has exploded in the US in recent years. Still, it's most valuable in countries where your average business lacks access to credit, trustworthy lending markets, competent local governance, or a stable financial environment.

For that reason, cryptocurrency has the potential to steal a portion of the market for non-bank loans—and possibly eat into lucrative segments of the traditional lending industry.

Today’s project represents a new approach. It’s about 80% smaller than its biggest natural competitor, Ribbon Finance, with a tokenomic scheme and platform strategy that seems better able to capture value and generate natural, durable appreciation for its token.

With backing from Andreessen Horowitz and Coinbase Ventures, it's already processed over $100 million in loans, generates an average yield of 11% in USD terms, and fits the “regulated crypto” narrative.

What is that project?

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