Introducing Goldfinch
Goldfinch Finance is a decentralized finance (DeFi) platform that offers collateral-free cryptocurrency loans. It is the missing piece in the puzzle that enables it to provide loans to ordinary people all over the world.
This company is named after the bird that reflects the principles of reliability and consistency.It is also a collateral-free lending platform on blockchain, which is being created by former Coinbase employees. In the Goldfinch protocol, extended lines of credit are provided to companies. These businesses then use these lines of credit to withdraw stabelcoins from the pool, which they exchange for fiat to place on the local trading market.
In this way, the protocol increases the utility of cryptocurrency - in particular, access to capital worldwide.
On the investor side, cryptocurrency holders can make a deposit into the pool to generate income. Payments are immediately paid out to investors as soon as the lending institutions return the payments back to the pool.
Goldfinch finance is already providing its services to many borrowers in Mexico, Nigeria and Southeast Asia.
Mike Sall and Blake West co-founded Goldfinch Finance. Both have extensive experience in cryptocurrency.
Prior to Goldfinch Finance, Mike Sall provided services as head of product analytics at Coinbase, while Blake West performed services as a senior engineer at Coinbase. The Goldfinch project has been supported by major funds and industry pioneers.
Major investors in Goldfinch Finance:
- Andreessen Horowitz
- Kindred ventures
- Coinbase ventures
- IDEO Collab Ventures
- Stratos Technologies
- Variant Fund
The principle of Goldfinch Finance is very simple:
- Various liquidity providers add capital to the pool.
- Lending companies get extended lines of credit through the pool.
- Lending companies withdraw stabelcoins from the pool and convert them to fiat.
- Borrowers can get loans from lending companies off-network as before.
Currently, Goldfinch Finance is already working with some companies. For example:
1 QuickCheck. This is a financial institution based in Lagos, Nigeria that provides collateral and hassle-free financial services and loans to individuals and small businesses in Nigeria.
2 Aspire. Provides financial services to small businesses in Southeast Asia. Offers working capital loans.
3 Almavest. This is a loan fund that raises capital directly from funders.
As a decentralized lending platform that offers unsecured loans, Goldfinch stands out from the crowd as it allows many people to enter the world of cryptocurrency.
Because Goldfinch is unique and one-of-a-kind, there is currently no alternative to Goldfinch.