iP2PGlobal — First-Ever Shariah-compliant Platform for Crypto Financing Finalizes IEO Plans: the sale starts November 18th only on ExMarkets
As always a new post on our blog thread usually signifies something of value. While the autumn here in Europe is in full throttle, the crypto startup and IEO industry are not showing any signs of stopping either. So without further ado, let’s get down right to it, shall we?
On this day, ExMarkets Team is excited to present to you guys the latest addition to our IEO LaunchPad list — iP2PGlobal. It is a peer-to-peer crypto financing platform that incorporates Shariah principles into its products and therefore can offer services to individuals of all cultural backgrounds around the world.
The iP2PGlobal Platform will be fueled entirely by its native TWQ tokens. What is more, the platform will apply a single global benchmark rate for its loan pricing that does not price in-country risks hence not discriminating users based on their country of residence. Adequate e-lending documentation that facilitates debt collectibility in the event of loan default is also integrated into system protocols.
In order to apply for financing, borrowers on the iP2PGlobal platform will have to stake a designated amount of TWQ tokens. After successful completion of the financing contract, upon maturity, staked coins will be refunded to the borrower which can be later reused in further loan applications. In the case of default, staked TWQs will be forfeited and used to repay the lender.
iP2PGlobal’s IEO starts on November 18th and will consist of three separate rounds, each offering a different price and bonus structure. ExMarkets users will have the option to purchase TWQ tokens in exchange for Ethereum or Bitcoin.
Round I: November 18th — 24th | TWQ Price: $0.10 | 20% bonus on purchases;
Round II: November 30th — December 6th | TWQ Price: $0.10 | 10% bonus on purchases;
Round III: December 12th — 18th | TWQ Price: $0.10 | 5% bonus on purchases;
“One of the main reasons why we chose Exmarkets was its past records in undertaking numerous and diverse IEO projects. We were also attracted to Exmarkets geographical reach with users in Europe, Middle East, and South Asia, which is in line with our target markets.” — commented Rashdan Ibrahim, Chief Executive Officer at iP2P Global Ltd.
Put a special reminder on your phone, tablet or PC and be ready when the action starts. Meanwhile, visit ExMarkets LaunchPad and sign up your account, deposit some crypto while you’re waiting for the IEO to start.
Ins and Outs of iP2PGlobal
The team behind the project has been closely monitoring the state of the crypto peer-to-peer loan industry. Even though the number of crypto loan platforms has increased, the market is still somewhat lacking, especially in 2 things: unsecured lending products and a Shariah-compliant P2P crypto loan platform that would appeal to the 2.18 billion Muslim population. The sudden emergence of the IEO market provided a superb opportunity to along with the IP2P Global project.
Shariah Finance — From the Islamic point of view, the act of lending is an act of charity, a good deed. It is not an act of business motivated by profits. Shariah finance means prohibition of interest and usury, steering clear of uncertainty based transaction, avoiding gambling and avoiding investments in the production and selling of impure goods and goods of no use or no value. Shariah finance is also closely related to the ethical finance values of fairness, equality, and morality in finance.
Since its inception back in 2005, the global P2P lending market experienced an accelerated growth when compared to other similar industries connected to financial services. The total volume of P2P loans reached approximately $420 billion USD and is expected to grow as far as $900 billion USD by 2024. Similarly, lending in the crypto industry has also taken off since 2016 and has originated around $4.7 billion loan volume to date. Both markets are should continue to expand and grow.
However, in the world of business, you have to stay realistic and the iP2P Global team does see a few challenges that are putting an impediment to market growth.
Localization: P2P lending platforms tend to pull borrowers and lenders from the same geographical area which is understandable and mainly due to familiarity, pricing, regulations, and psychological factors.
Inefficient capital matching: localization leads to inefficient distribution of capital between borrowers and lenders since both parties are locked-in to the country or geographical benchmark savings & lending rates.
No unsecured crypto-lending: there are literally still NO unsecured crypto lending products because of the lack of smart contract enforceability.
iP2PGlobal has done extensive market research, collided with the issues underlying market barriers and therefore, has the knowledge as well as a clear strategy on how to tackle said challenges.
Features of the iP2PGlobal lending platform
- Shariah Compliance — Financing products of IP2P Global are structured based on Sharia principles, targeting the Muslim population of approx. at 2.18 billion. However, the platform is open to everybody regardless of creed, religion, geographical location or political views.
- Unsecured Financing — The platform will provide both unsecured and secured financing products to its customer base.
- Global Platform & Global Rate — One single platform to match borrowers and lenders across the globe for personal P2P financing using one uniform benchmark rate.
- Takaful Reserve Fund — Option to unsecured lenders to protect against borrower’s default
- Robust Credit Assessment — Bank-grade credit scoring model combined with social credit scoring model.
- Auction — Two auction methods will be available: fixed-rate auction and variable rate auction.
- Ticker: TWQ;
- Starting price: $0.10 USD;
- Bonus: Yes, 20% — 5% depending on round;
- KYC: Yes;
- Restricted countries: The Cayman Islands, The U.S.
- Token allocation for ExMarkets: 50,000,000 TWQ;
- Accepted currencies: BTC, ETH;
- Sale period: November 18th — December 18t
- Blockchain: Ethereum (ERC20)
It would take a madman to argue that the P2P lending market is going to slow down in the upcoming years. People are getting more financially literate, more trusting in digital platforms and are increasingly willing to put their faith in a fellow human being.
iP2P Global seems to be occupying a perfect slot in time, when the traditional finance and the crypto worlds are colliding. Besides, being Shariah-compliant gives them an extra edge and significantly increases the potential user base. They just might catch the wave and take off.
Don’t forget: the IEO starts on November 18th! Be there and be ready if you want to take advantage of the 20% bonus, dedicated for the first round of the sale.
ABOUT THE AUTHOR
ExMarkets is a digital asset exchange platform powered by the state-of-the-art trading engine developed in-house. On the exchange, ExMarkets users can trade the most popular cryptocurrencies as well as gain the chance to participate in the token sales of the most promising blockchain and crypto projects through ExMarkets Initial Exchange Offering (IEO) LaunchPad.
Fairly recently ExMarkets was granted 2 operational licenses for crypto-fiat gateway and custodian service provision by the Estonian regulator making it one of a few certified players in the market.
It takes only a few minutes to set up your account and users are allowed to make deposits in Bitcoin, Ethereum, other supported cryptocurrencies, tokens, and most importantly Euros.
To top it all off, ExMarkets is a part of the CoinStruction liquidity framework which is aggregating order-books from the most well-known cryptocurrency exchanges guaranteeing 24/7 crypto liquidity — a feature which can seldom be seen in the current market.
All IT solutions and technology of ExMarkets and CoinStruction’s services are developed in-house guaranteeing that all security threats and third-party associated risks are kept at minimum levels throughout all stages of product deployment.
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