Libra Credit (LBA) - Facilitating Open Access To Credit, Anywhere and Anytime, based on the Ethereum blockchain.
Libra Credit (LBA)
Libra Credit, which was co-founded by two ex-PayPal executives, Lu Hua and Dan Schatt, aims to leverage the blockchain to transform financial services and bring banking into the future.
Libra Credit’s objective is to facilitate open access to credit, anywhere and anytime, based on the Ethereum blockchain. With the creation of a lending ecosystem, Libra Credit has a more powerful ability to provide loans as compared to conventional lending models.
On May 5th, Libra Credit completed its ICO of LBA tokens and in July 2018, they will aim to facilitate global coin-to-boin and fiat-to-fiat lending for borrowers. Libra Credit was also successfully listed on four major cryptocurrency exchanges including Huobi Pro on the same day. It is currently trading at $0.145523 with 24-hour trading volume $3,359,080 or 3011479 LBA.
You can sign up on Huobi Pro to track and trade LBA Tokens.
Libra Credit’s Business Model:
Libra Credit has multiple benefits for borrowers: A diversified source of funding from an extensive partnership network. Proprietary collateral-based assessment to provide inclusive credit services. And an in-house crypto exchange to provide maximum flexibility. All this makes it easier to access the funding that’s required when the borrower needs it.
To improve acceptance and drive adoption, Libra Credit will initially act as the loan guarantor for financial institutions (i.e. banks, funds, etc.) and private investors (i.e. HNWI, crypto-community). Crypto assets will then be released directly from Libra Credit’s Lender & Stablecoin Partnership Network to borrowers.
EXTENSIVE PARTNERSHIP NETWORKS
• Collaborating with partners in both crypto and financial markets
• Synergies with crypto exchanges, stablecoin providers (e.g. Maker DAO), 3rd party identity
verification providers (e.g. uPort) and financial institutions (e.g. banks)
• Reinforcing Libra Credit while delivering value for partners
PROPRIETARY AI-BASED CREDIT ASSESSMENT FRAMEWORK
• In-house risk management technology which has been deployed in China and the ASEAN
market successfully
• Pioneer in digital credit services, leveraging a dual-credit assessment framework that
considers collateral viability and borrower credit score
FLEXIBILITY FOR PARTICIPANTS
• Crypto-to-fiat loan allowing collateralization of cryptocurrencies to spend fiat without
sacrificing their current crypto position
• Crypto-to-stablecoin loans enabling borrowers to hedge price volatility without exiting
• Crypto-to-crypto lending allowing borrowers to pledge other alternate tokens for more
mainstream crypto currencies (i.e. BTC / ETH) with better liquidity
Key Benefits of Libra Credit to Stakeholders
E-wallet Partners
Through their customer acquisition partnership network, Libra Credit can drive adoption and scalability. Lending applications and e-wallets provide a multitude of acquisition channels for Libra Credit to obtain its customers. Lending application partners can facilitate liquidity for its end users through the Libra Credit. Examples would be travel applications (i.e. crypto-holders can obtain fiat lending for trip payment) and e-commerce applications (i.e. fiat lending for purchasing advance). On the other hand, the Libra Credit can drive trade volume for e-wallet networks through our loan disbursement needs.
• Additional product/service use cases which will improve customer
satisfaction and thus customer loyalty
• Customer base expansion and potential income enhancement with
expanded fund flows
Exchange Partners
Libra Credit’s exchange partnerships, which include Radar Relay and DDEX, help in providing crypto market liquidity and flexibility to the network. Borrowers can go through Libra Credit to get the best rates offered to us exclusively for their crypto investments. Libra Credit will also have full access and support in the case that collaterals in their possession have to be immediately liquidated.
• Increased trading volume and trading fee income
• Enhanced liquidity depth on top of the existing order book, which drives
additional customer acquisition
Lenders
Lenders are essential to Libra Credit’s network since they can supply liquidity, hedge risk and enable the reinvestment needs of borrowers. Fiat lenders such as banks, funds and other financial institutions can satisfy cash turnover needs of crypto holders. Lastly, crypto-to-crypto lenders (i.e. crypto funds, private investors) can lend tokens or other cryptocurrencies to institutions and crypto users. For example, institutions with large holdings of proprietary tokens can borrow BTC or ETH to fund their operations.
• Crypto-market exposure with lower risks
• Significant reduction in cost of loan monitoring
• Reduced reporting efforts with single source of truth
Libra Credit’s Recent Receipt of $16 Million in Institutional Investment
Recently Libra Credit announced the receipt of over $16 million from institutional investors participating in Libra Credit’s (LBA) private token sale which includes 500 Startups, DHVC, GBIC, Alphabit Fund, Dekrypt Capital, FBG Capital, DFund, BlockTower, Signum Capital, 8 Decimal Capital, Crypto Parency and Block VC. With this investment, Libra Credit seeks to transform the lending industry by leveraging its proprietary credit scoring algorithms with blockchain technology.
In a statement from Dan Schatt, President of Libra Credit, he said:
“We are excited to have the support of leading blockchain investment companies such as 500 Startups, DHVC, GBIC, Alphabit Fund, Dekrypt Capital, FBG Capital, DFund, BlockTower, Signum Capital, 8 Decimal Capital, Crypto Parency and Block VC. These valuable partnerships allow us to continue to shape the lending industry. Our goal is to harness blockchain technology to revolutionize the lending industry, bringing inclusive financial services to the world.”
Libra Credit also has a fascinating roadmap ahead of them and extending all the way up to the year 2020:
Next up on Libra Credit’s Roadmap is the launch of the Desktop Version of the Libra Credit Platform which will enable crypto-to-crypto/fiat lending. Watch out for it sometime in Q3 2018.
Huobi Talk Ep. 35 featuring Lu Hua CEO of Libra Credit, with an Exciting Airdrop!
Don’t forget to Tune in to Huobi Talk Episode 35 this Thursday, 21 June at 12pm (GMT+8) to get the inside scoop directly from Lu Hua. It’s the perfect opportunity to learn more about Libra Credit and their goal to build a decentralised lending ecosystem. LBA is currently listed on Huobi Pro, you can sign up right here.
Will there be an Airdrop? YES!!!
To participate in Airdrop, you need to have a Huobi UID first. Simply register for a Huobi account at Huobi.pro here and access your UID from your account information.
To find out where to locate your Huobi UID, click here:
- Where to locate your Huobi UID, http://bit.ly/2F02v1L
Steps to qualify for Airdrop:
- Sign up for an account at Huobi.pro to get your Huobi UID
- Share this Youtube video effective from 19/6 to 21/6 and fill up the google form above to participate in the airdrop for sharing
- For Q&A segment, post your answer when the host/speaker announces the Q&A on the Youtube Live Chat during the live streaming, remember to insert your Huobi UID 12345678 @ correct answer.
- Airdrop tokens will be distributed proportionally to the sharers (75,000 LBA) and the top 100 participants with correct answers for each Q&A (100,000 LBA).
Airdrop tokens usually arrive in your Huobi Pro account within 3 working days after the list of winners is announced on Huobi Pro’s Medium page. Good Luck!
Huobi Pro Official Community and Social Media Channels:
Website: huobi.pro
Facebook : https://www.facebook.com/huobipro/
Twitter : https://www.twitter.com/Huobi_Pro
Instagram: https://www.instagram.com/huobipro/
YouTube: https://www.youtube.com/Huobipro
Medium: https://medium.com/@huobipro
Libra Credit Official Community and Social Media Channels:
Official Site: https://libracredit.io/
Twitter: https://twitter.com/LibraCredit
Telegram: https://t.me/libraofficial
Medium: https://medium.com/libracredit
Reddit: https://www.reddit.com/r/Libra_Credit/
