`Depository Network acts as digital depository service for lenders and borrowers
Tallinn, ESTONIA (May 18, 2018) — Turning digital assets into real value has just become easier thanks to Depository Network, an independent platform that allows lenders to accept digital assets as collateral.
Depository Network (DEPO) works in the same way as a traditional depository service, but for digital assets.
The platform provides a safe, decentralized solution to overcome the challenges of using, accepting and benefiting from digital assets.
It has further blurred the line between cryptocurrency and the traditional market space.
Using DEPO infrastructure, lenders will be able to accept digital assets as collateral for loans while allowing the borrower to retain ownership of the assets and preserve future financial gain.
Built as a B2B model, the infrastructure acts as a tool for lenders that unlocks the financial value of digital assets for borrowers.
How it works for lenders:
Any lender will be able to accept digital assets as collateral by using the DEPO platform in the loan process. They will also be free to define the terms.
At any time during the loan period, the lender can request additional collateral or a partial sale of the asset. This offers the lender protection in the face of market volatility.
How it works for customers:
DEPO helps consumers secure a loan by allowing digital assets to be used as collateral. Individuals simply seek out a trusted lender and select an option that allows for the pledge of digital assets. Once the contract has been signed, the borrowers deposit their asset with DEPO. The loan is then approved, and the borrowers can use the cash as they wish.
With DEPO, 30,000 non-bank lenders and over 17,500 banks around the world will be able to help customers turn their cryptocurrency into cash quicker, easier and without the loss of future value.
Hundreds of peer-to-peer lending platforms will also be able to take advantage of DEPO’s benefits.
- High tech infrastructure
- Full support and order execution
- Enforced cost efficiency through the platform
- Full integration with lenders’ websites
- Borrower retains ownership of the digital assets
Plans are already underway for an ICO for the third quarter of 2018, with an official Alpha Release in Q1 2019.
About Depository Network
DEPO came together in 2017 when experienced legal, technical and financial minds united. Co-founders include Svetoslav Dimitrov, Deliyan Nikolov, Ivo Gueorguiev, Dimitar Kostov and Valeri Valtchev. The company is positioned at the forefront of the cryptomarket, which has unlimited potential.