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Gluwa Launches Ethereum-Based Venture Debt Fund

Thu, 09/09/2021 - 15:28
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Arman Shirinyan
Gluwa announces the launch of venture debt fund and credit lines
Gluwa Launches Ethereum-Based Venture Debt Fund
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Gluwa financial platform has announced the launch of its cryptocurrency venture debt fund based on the Ethereum blockchain. The fund will be designed to develop and promote financial inclusion and offer financial solutions to private investors.

Gluwa ecosystem's key goal is to connect investors from all over the world by offering high-yield opportunities in emerging markets. The staked funds will be used to provide liquidity to the company's partners, credit opportunities and credit lines for projects that lack financing. Credits will allow individuals to quickly start a small start-up or use funds for various non-financial needs.

At this point, Gluwa has already partnered with leading credit-providing companies. Jenfi and Aella are two companies that will provide credit lines for numerous users in both Africa and Asia.

The established debt fund has a fixed term of three months with an interest-bearing account functioning on the Luniverse Ethereum sidechain. In order to participate in the fund, private investors can exchange BTC to sUSDC-G (the project's stablecoin). The investment cap is set at $500,000 sUSDC-G.

Recently, more than 1,000 users have gone through the KYC process prior to the Bond Account launch. Other accounts are expected to go live later in the year.

Gluwa investments product manager Brendan O'Toole stated that the launch of the product is a significant milestone and major step toward finalizing the project's vision, which is connecting people all over the world by providing investment opportunities and capital for their needs.

In contrast with other DeFi lending protocols, Gluwa creates a fully decentralized crediting ecosystem for non-collateralized lending that will be based on the Creditcoin blockchain. Gluwa's credit investments will be transparently recorded on the open recording blockchain, which allows future investors to track their funds in the future.

About Gluwa

Gluwa is a financial platform with the goal of giving everyone fair access to currencies across the world. Gluwa's product line includes a noncustodial cryptocurrency wallet, exchange and yield-earning accounts. The platform's goal is to build a bright future that will include financial inclusion where you can become your own bank.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.