The First Uncollateralized Lending Protocol available on Trader Joe
- BNPL Pay Trading is Live on Trader Joes
- First Uncollateralized Lending Protocol to Trade on Avalanche
- Connecting TradFi and DeFi
- Protocol Live this Month
- Backed by Clee Capital, RuneBase, Qi Capital & 0xVentures
It was revealed on Friday that uncollateralized lending protocol, BNPL Pay has launched trading on top Avalanche DEX, Trader Joe. BNPL Pay is an emergent protocol that will connect TradFi and DeFi.
With a market potential orders of magnitude larger than current DeFi, uncollateralized lending could make decentralized credit markets accessible to a wider section of the population. In this regard, the launch of BNPL Pay could signal a significant step towards DeFi’s mainstream entry. The protocol utilizes a decentralized network of banking nodes to connect DeFi lenders to TradFi borrowers, becoming an on-ramp for their entry into the decentralized world.
The BNPL Pay Protocol has a number of ways it will be utilized including integration into e-commerce POS systems to offer a new way for corporations to finance consumer spending in house. Given that Buy Now Pay Later providers are ruling the consumer finance market these days, BNPL Pay is poised to make a significant impact in this US $100 billion space. The protocol is backed by Clee Capital who have strong connections in TradFi and the BNPL space, and many prominent VCs such as 0xVentures, RuneBase and Qi Capital also are early backers of DeFi 2.0.
This innovative protocol is the creation of a team of individuals with significant expertise in both TradFi and DeFi. Having seen the two sides of the spectrum, they highlighted this void which needed to be filled and set to creating a protocol that shatters the barriers between the two financial systems,
The move by the BNPL Pay team to launch trading on Avalanche is the sign of a cross chain future for the protocol. This enables more inclusion for smaller users who may be discouraged from purchasing tokens and utilizing the product due to the expensive price of gas on the Ethereum network.
Avalanche users are able to trade BNPL Pays governance token on Trader Joe via the BNPL / AVAX pool here
About BNPL Pay
BNPL (Buy Now, Pay Later) is a decentralized lending protocol that puts credit in the hands of those who need it the most: users without capital. We tackle the problems presented by uncollateralized borrowing through a unique design in which a decentralized network of banking nodes services the needs of the industry. With this protocol, anyone can become a lender, and anyone can apply for a loan.
Website: https://bnplpay.io
Contact: [email protected]
