Pencil financing increases on-chain capital for student loans and gives $ 1 million to Real-World loans.
Real-World assets are finding more and more applications in real life. On Thursday, July 10, Pencil Finance, the Real-World Asset Protocol of the Study Income, has issued his very first study capital for student loans that have been completely increased on the chain.
The $ 1 million in loan capital, picked up on the Pencil Finance Platform, will be used to expand educational opportunities in emerging markets. The focus will be on Asia, including the Philippines and Indonesia. Capital will be distributed through Erudifi, which will then issue student loans for tuition fee financing to university students.
At the same time, users who provide the capital earn revenues based on reimbursements of student loans. In particular, $ 750,000 of the capital offers a fixed annual percentage of 15%. Another $ 250,000 offers variable APY with the first loss risk.
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Blockchain to expand educational opportunities
The platform was launched with the support of the Animoca brands established in Hong Kong. Yat Siu, co-founder and executive chairman of the company, is of the opinion that pencil financing demonstrates the real-world, positive use cases for blockchain.
“By publishing student loans with funds that were created for the first time on the chain, pencil financing shows how decentralized technology can immediately enable students and can transform access to education worldwide,” Yat Siu, Animoca brands.
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This sentiment was reflected by Frank Li, co-founder of Pencil Finance, who stated that Blockchain can have a meaningful social impact. The goal, he explained, is to make training all over the world more accessible.
“For the first time, students in emerging markets can benefit from transparent, efficient financing driven by on-chain financing. We are proud to open doors for the next generation of talent,” Frank Li, Pencil Finance.
Animoca Brands is a game developer, NFT platform and risk capital company aimed at crypto companies. The company finances a large number of crypto -based startups, especially in Asia.
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