Blockchain Lending Platform ETHLend To Add MyBit’s MYB Token

Announcements, News | June 25, 2018 By:

Decentralized lending platform ETHLend will be adding support for MyBit‘s MYB token on its platform.

Built on the ethereum blockchain, ETHLend provides a global lending market that connects lenders and borrowers from all over the world, offering secured loans with the use of ERC-20 compatible digital tokens as collateral. The company claims to provide low interest rates and a transparent technology for processing transactions.

Founded in in 2017, MyBit is an Internet of Things (IoT) investment ecosystem powered by ethereum. MyBit’s decentralized investment platform allows users to invest in revenue-generating IoT devices, such as robotics, autonomous vehicles, 3D printers, drones, cryptocurrency ATMs, and miners. Last week, it announced the integration of the Bancor protocol on its platform including all its DApps to increase liquidity. It also launched MYDEX, a decentralized asset exchange, to trade stakes of IoT industry.

Currently, ETHLend only provides lending with ethereum. The partnership with MyBit will enable them to list the MYB token on its lending platform and marketplace. ETHLend said it also plans to introduce other altcoins in Q4 2018.

In April of this year, ETHLend registered a record-breaking figure of 12,000 ETH in lending volume, which was calculated on ETHLend’s dApp (Alpha 0.2.0 and Alpha 0.2.1 codenamed Omura). The company also made new developments in its project like the deployment of its decentralized application Alpha 0.3 (Kogia) to the ethereum testnet, as well as new fiat lending capabilities.