To reshape corporate loans and fixed-income investments, blockchain-based lending protocol Soil is working on bridging the gap between traditional finance (TradFi) and the world of cryptocurrencies.
On June 26, Soil announced that it had obtained confirmation from local financial market regulators that the activities expected to take place on the Soil Platform are consistent with the legislation in the applicable jurisdiction, according to the latest information shared with Finbold.
This is a significant achievement for Soil as it demonstrates the validity of the fundamental premises upon which the procedures and principles that underpin its business strategy have been tested.
In particular, Soil is in the process of developing a self-balancing decentralized finance (DeFi) protocol that will serve to bridge the gap between conventional enterprises and private debt foundations (borrowers) and stablecoin holders (lenders).
Reshaping debt marketplace
Established businesses operating in a wide variety of markets can access a debt marketplace that Soil will support to increase their capital by soliciting loans from stablecoin holders.
It is a debt marketplace where established enterprises can receive finance and where cryptocurrency investors may lend their stablecoins in order to earn yield derived from Real World Assets that exist off-chain.
CEO of Soil, Jakub Bojan stated:
“We hired several teams of lawyers from different countries and waited for long weeks to receive official confirmation from the local regulator that the activities planned on our Soil Platform are legal”
“Despite this great success, we continue to work and do our best to ensure that our project is at the forefront of the cryptocurrency market and is transparent and safe for our partners and investors around the world.”
Prioritizing the need for security on Soil
Soil is adjusting not only to the rules that are already in place but also to the forthcoming revolutionary changes that will take place in the world of cryptocurrencies, including the EU Markets in Crypto Assets (MiCA) legislation.
What’s more, Soil is well-positioned to launch an innovative new financing system, thanks to its cutting-edge business strategy and strong backing from the legal community.
Sourced from cryptonews.net.