Fully licensed loan platform for the enterprises of small and medium business Crowd Genie will be the first Asian-wide credit exchange, functioning on the technology of the blockchain, which will allow the tokenization of the assets.
Taking another step in the process of developing holistic solutions for P2P lending to the Asia-Pacific region, Crowd the Genie announced that through its subsidiary CGSPV Pte Ltd will carry out an initial placement of tokens (. ICO) format of selling the cryptocurrency CGCOIN.
Crowd Genie is one of the four platforms P2P lending, licensed type-Capital Market Services (CMS) issued by the Monetary authority of Singapore (MAS). The company aims at providing easier access to capital for borrowers who wish to develop their own business with the help of trusted investors. This goal has been materialized with the establishment of the integrated framework for the lending market.
By selling tokens at the stage of ICO, Genie Crowd tends to attract an amount of 100 000 ETH in order to expand its operating activities, namely to develop a comprehensive and holistic credit platform for the entire Asian region, based on tokenization of assets and allowing a more simple and cheap flow of funds between lenders and borrowers.
What features of the token Crowd sale Genie it is possible to allocate in comparison with other ICO? Crowd the Genie is not only fully licensed in Singapore, the credit platform, but also is confirmed by statements from significant financial flows, which shows all activity from 2016. Founded by entrepreneurs Akshay Mehra and Bikash Saha, the Genie company Crowd is always striving to make significant improvements in how we perceive lending. The platform Crowd the Genie will facilitate the operation of the loan-lending, thanks to the tokenization of assets on the blockchain of Ethereum.
The owners of the tokens CGCOIN will have the opportunity to invest in companies hosted on the platform Crowd the Genie. Interacting with her, the owners of the token will be able to use tokens CGCOIN for investment in assets of companies which can be split (fragmented) into smaller components, thus obtaining a higher yield in comparison with traditional investment instruments. The organization of the process thus possible by the technology of the blockchain, which will apply for accounting and control of property rights and make investment.
Genie Crowd will still continue to ensure the rigor, diligence and integrity in relation to the conditions and rules for borrowers and lenders. To the Crowd the Genie idea was possible to implement using the technology of the blockchain, the platform team plans to develop a «digital passport», which will contain verified information about each participating party or asset.
About Crowd Genie
Crowd Genie is located in Singapore lending platform that connects borrowers (registered small and medium enterprises) and creditors (capital providers) within a single ecosystem. Founded in 2016, the platform is aimed at implementing mechanisms for the implementation of the transaction based on blockchain technology using its own cryptocurrency CGCOIN.
Crowd Genie is one of the few P2P lending platforms who have successfully completed the licensing process and licensed to deal in securities (“Dealing in Securities”), issued by the Monetary authority of Singapore (MAS).
Public condemnation of the project is available in the group Telegram on the Bitcointalk forum.