P2P platform

New blockchain-powered SME finance platform launches

Debitum Network has launched a global finance platform that enables investors worldwide to fund short-term loans to small businesses using blockchain technology.

The Lithuania-based start-up launched the platform – known as Abra 1.0 – at World Blockchain Forum in London with an investment portfolio of €500,000 (approximately £452,000) and will be rolled out in 15 countries by 2019.

Debitum’s solution was based on a unique hybrid model, which combines the best features of cryptocurrency transactions and traditional lending.

The system’s internal processes are powered by blockchain technology (using the platform’s ethereum-based DEB token), while loans are provided using traditional fiat currency.

Investment into the platform starts from €10 (approximately £9), up to a maximum of €10m (approximately £9m).

Abra 1.0 can provide loans of between €10,000 and €1m (approximately £9,000 to £904,000).

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