CHICAGO, Feb. 19, 2021 /PRNewswire/ — LQD Business Finance, a leading tech-enabled alternative lender, launches the development of the world’s first Bitcoin business lending platform. This cutting-edge platform will make LQD Business Finance the first company to use Bitcoin as currency for commercial loans.
Chicago-based commercial lender launches the development of first-ever loan service with Bitcoin as currency
While Bitcoin can be used as collateral to obtain a loan currently, the company’s platform will be the first to use Bitcoin as a lending currency. LQD Business Finance’s platform will achieve this goal in two key ways.
First, LQD Business Finance will build upon the Provenance blockchain to make the process of documenting and packaging loans more efficient. “Bringing increased efficiency and accuracy to commercial lending at the core of LQD’s DNA. Adding a blockchain to our existing tech-stack enables us to better achieve that goal,” says LQD CEO George Souri.