GenieICO: Singapore licensed SME Lending Platform

Lending and Exchange Asset Platform


 This market lending platform brings the borrowers together which can be small  and medium-sized enterprises of Singapore and lenders. Crowd Genie is a  peer-to-peer marketplace lending platform that brings together Borrowers which  might be Small and Medium sized enterprises (SMEs) in Singapore, and lenders.  Crowd Genie, a totally operational Singapore-based mostly peer-to-peer digital  lending platform licensed by the Financial Authority of Singapore (MAS), has  been selected by the token holders of the ICOS platform as the newest promising  undertaking to hold its personal ICO. In March 2017, it was authorised for  “dealing in securities” license by Monetary Authority of Singapore. As well as,  it additionally holds a license from the Financial Authority of Singapore, which  puts Crowd-genie in the league of only a few platforms of such standing. Ours is  the one platform that incorporates the complete lendingprocess, from KYC  verification to assetlending. That passport may finally be used throughout Asia  as a continent-extensive verification system. This will add an additional data  stage to our AI credit rating analysis system which is able so as to add bigger  depth to our credit score evaluation. Crowd-genie: Token-primarily based lending  was created with a goal to construct a personal capital hub for Asia Pacific  using sensible contracts to allow lending with out borders additional  environment pleasant, cheaper and safer.



  As a way to construct within the direction of our imaginative and prescient of  adjusting into the primary Asia in depth Asset Alternate on Blockchain, we wish  funds to develop our current mortgage guide to make it extra established. Akshay  Mehra: In order to build in the direction of our imaginative and prescient of  turning into the primary Asia extensive Asset Exchange on Blockchain, we'd like  funds to develop our current mortgage ebook to make it more established. When it  comes to expertise, CEO and Founder Akshay Mehra went to the Indian Institute of  Management in Calcutta for his MBA. Akshay Mehra: Yes, they will keep an eye  fixed out on the development of the platform. Borrowers are rewarded for well  timed repayments with CGCoins, and people repayments may be monitored publicly  so lenders can construct and set up trust. Borrowers are remunerated for  opportune reimbursements with CGcoins which might checked freely so banks can  fabricate and construct up trust. As we speak, the standard sources of finances  like non-public capital and banks are mainly constrained to take exposure to  those who are too small or whose conventional monetary metric should not too  robust. Secondly, we’d like funds for regional progress and we foresee that  there may be costs incurred for the related licenses in different worldwide  locations.

 Additional funds will be utilized to expedite expansion into other areas  reminiscent of making use of for securities licenses in different international  locations, organising new workplaces, recruiting more specialists and expanding  the loan e-book. Crowd-genie: So as to build in direction of our vision of  changing into the primary Asia vast Asset Change on Blockchain, we need funds to  increase our present mortgage ebook to make it extra established. The use of  emerging blockchaintechnologies will make the platform extra reliable,  inexpensive and faster. The platform has numerous security options in place to  verify reliability. The platform has varied security options in place to make  sure reliability. Tokens can be used to invest on the group Genie platform.  Investing in Crowd Genie can bring vital advantages for the investors and also  stand it aside from other organization tokens. The crowd Genie commerce will  democratize exchanging and permit interest in basis, stocks, cryptographic cash,  and securities crosswise over Asia and the world.

The Brains behind Crowd Genie:


The group Genie Asset Trading Trade will democratize buying and selling and  permit asset fractionalization and investment in infrastructure, stocks,  cryptocurrency, and bonds across Asia and the world. Crowd Genie is based in  Singapore. What are your ideas on the gang Genie undertaking? Crowd Genie as of  now has a loaning stage that is operational. Crowd Genie will create a “digital  passport” for each client, both lenders and borrowers, using due diligence  procedures that ensure compliance with KYC, AML/CFT, cybersecurity, and privacy  requirements. Both borrowers and lenders must verify their identity. For doing  this every party can be verified and distinctive wallet id shall be created for  it. The bounties can be provided when the token sale ends. The company has a  robust track report of 22% of ROI to date and now they want to broaden their  companies and allow token holders to grow to be a part of the crowd Genie  journey.

Crowd Genie Future:


The project’s vision is to build a tokenized Pan-Asian lending exchange based  mostly on good contracts, to make sure value-efficient, protected and  environment friendly cashflows between lenders and borrowers. The group Genie  Asset Trading Alternate will democratize trading and permit asset  fractionalization and investment in infrastructure, stocks, cryptocurrency, and  bonds across Asia and the world. Crowd-genie: Our staff consists of consultants  overlaying the features of fee safety, know-how, debt capital, cryptocurrency,  and enterprise improvement. Crowd-genie: Yes, they'll hold an eye fixed out on  the development of the platform. The general public ICO will begin on January  15, 2018, and will run until February 15, 2018. On offer will probably be  50,000,000 CGCOINs, a utility token which can be utilized to trade on the gang  Genie platform. While you buy CGcoins, these are put into Crowd-Genie’s  excessive returning elective advances. Borrowers are remunerated for opportune  reimbursements with CGcoins which might checked freely so banks can fabricate  and construct up belief. To construct and scale an asset change with  pre-blockchain applied sciences could be prohibitively costly, and doubtlessly  unfeasible due to problems with transparency and belief. KYC due diligence, and  a distributed asset trade. Crowd-genie: With a purpose to construct within the  path of our imaginative and prescient of changing into the primary Asia in depth  Asset Change on Blockchain, we want funds to develop our current mortgage guide  to make it further established.

Why Crowd Genie?


 This is unique, as most ICOs pay in tokens only. Monthly curiosity and principal  repayment could be withdrawn in fiat or CGCoin tokens. These tokens will offer  helpful incentives to all the individuals of the ecosystem who buy and use them.  The compliance with Singapore regulation will be sure that Crowd Genie will  perfectly work whereas maintaining the high degree of skilled conduct. In March  2017, it was accredited for “dealing in securities” license by Monetary  Authority of Singapore. As well as, it also holds a license from the Financial  Authority of Singapore, which places Crowd-genie in the league of very few  platforms of such standing. The extra CGCOIN Credit score earned, the higher  their fame, and that in flip, will improve their probabilities of getting larger  investments from extra lenders and/or a lower fee of interest. This can be a  spendable asset that will be tracked individually within the Digital Passport.  Although our current P2P digital mortgage enterprise is extraordinarily  revolutionary within the Singapore monetary sector, it might have been not  doable to scale and supply Asia-broad asset buying and selling earlier than  blockchain know-how was launched.