Lending companies leveraging Blockchain technology

October 13, 2016 by

Blockchain’s application has drawn attention of many in the financial world. Several fractional units of the FinTech Industry have started putting their heart and soul to enforce blockchain technology to advanced practice. Blockchain technology is widely accepted and used by the companies in the lending industry, and is chiefly known as bitcoin lending.

List of major companies using blockchain technology to leverage lending services:

  1. BTCjam:

Established in late 2012, BTCjam is a global marketplace where people connect to borrow and lend using bitcoin. Since then, there was no looking back for BTCjam. In October 2013, it was accepted into the ‘500 Startups accelerator program’ and secured seed financing from Ribbit Capital, 500 Startups, FundersClub and Bitcoin Investment Trust. Then, BTCjam moved from Mountain View to San Francisco in February 2014 and began expanding the company. By the end of 2014, it had extended bitcoin loans of more than$10 million dollars, and had more than 100,000 users in over 200 countries. The company’s latest funding was raised in January 2015, led by Foundation Capital (investors in Netflix and Lending Club), Ribbit Capital, 500 Startups, FundersClub, Bitcoin Investment Trust and Pantera Capital.

How to procure a bitcoin loan?

Here are a few steps:

*The customer has to jot down his requirements and define his choice of rates, parameters, optional soft credit check etc. 

*Investors, then, review, consider, discuss and fund his loan if they find it reasonable.

*The customer gets his bitcoins

* Make the payments

What’s more!?

BTCjam provides some perks to the investors as well:

*High rate of return

*Safety of peer-to-peer reputation system and soft credit checks.

*Verification process handled by BTCjam as investors have to face no hustle.


  1. BitBond

This Company leverages bitcoin as a technology and payments network to create a global market for small-business loans. BitBond is a platform for small businessmen to have an easy access to affordable loans and at the same time, lenders earn profitable interest rates. BitBond works exclusively with the digital currency bitcoin in such a way that neither the borrower nor the lender needs a bank account to enjoy the beneficiaries of the company. The company has extended over 1,000 loans to users from over 120 countries.


  1. BitLendingClub(now known as Loanbase): 

Loanbase is a Chicago-based lending marketplace with blockchain technology that extends worldwide. The dais helps small businesses in emerging markets by bestowing them capital at reasonable rates from lenders across the globe. Loanbase leverages blockchain technology in order to modernize the financial market and ensure good of small businesses in emerging markets.


  1. BTCPOP:

BTCPOP Offers a special P2P banking experience by providing instant loans, investment pools, collateral tied loans and more. The company offers all this within the bitcoin domain. Instant loans are available after qualifying period.


  1. BTC Lend:

BTCLend was established with a motive to provide lenders and borrows a trustworthy platform to perform Bitcoin lending. Lenders can earn up to 10% APR on Bitcoin deposited into BTCLend. The borrower decides parameters according to his convenience, including the duration of loan and a percentage earned on return. Correspondingly, BTCLend assigns ratings or scores to each borrower based on loan repayment history.


Apart from peer-to-peer lending platforms, there are companies which are into SME B2B transactions. For instance,

DeBuNe: The company provides a peer-to-peer platform for business-to-business transactions. The company allows small businesses to join hands and collaborate in terms of market offers and hence, monetize their expertise or products more efficiently and effectively than their competitors in the outside world. The company uses blockchain technology to store all their transactional data on the decentralized public information vault offered by the Next crypto-platform. It offers a transparent, secure, agile and open-source peer-to-peer infrastructure alongside.

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