Polytrade finance, a DeFi (decentralized finance) lending platform providing working capital to small andmedium enterprises (SMEs) using crypto liquidity has announced its listing on India’s popular cryptocurrency exchange, CoinDCX.
“$TRADE listing on CoinDCX will provide its 75 lakh plus Indian users with another avenue to access trade tokens,” it said in a release.
Moreover, the listing would increase the liquidity of the $TRADE token and penetration into the wider Indian communities. The listing has been done specifically to cater to the demands of the SMEs for the working capital in India.
Prior to its listing on CoinDCX, $TRADE has been listed on some of the world’s leading platforms including Kucoin, Uniswap, Quickswap, MEXC, Bitmart, and PancakeSwap. A listing on KoinBazar is on the cards as well, PolyTrade said.
Speaking on the CoinDCX listing, Piyush Gupta, MD & Founder, Polytrade said, “We are absolutely ecstatic with the listing in India. This has come as a giant leap towards our goal of providing real-world borrowers access to low interest and swift financing to free up critical working capital, tapped from crypto lenders using invoice financing.”
“SMEs in India will have to play a critical role in realizing Prime Minister Narendra Modi’s goal of making India Atmanirbhar and a $5 trillion economy. Polytrade will ensure that these small businesses have enough working capital at their disposal for smooth operations in these pandemic times,” Gupta further added.
Polytrade is a blockchain-based decentralized protocol aiming to transform receivables financing connecting buyers, sellers, insurers, and investors for a seamless experience. It will provide real-world borrowers access to low interest and swift financing to free up critical working capital tapped from crypto lenders.
Since its inception in 2014, Polytrade finance has onboarded more than 5,000 borrowers, funded more than 250 borrowers with a cumulative value of $500 million from around the world.
Never miss a story! Stay connected and informed with Mint.
our App Now!!
This news is republished from another source. You can check the original article here