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Bitcoin P2P lending app CredibleFriends raises 20% of its financial goal
CredibleFriends, a peer-to-peer lending platform built on Bitcoin to quickly extend lines of credit to all trusted friends, has pitched on online investment platform, BnkToTheFuture and has raised 20% of its financial goal to $51,000.
According to bitcoin.com, CredibleFriends is aiming to raise $250,000 USD by July 15. “Bitcoin has now reached a critical mass where it can play its role in Peer to Peer Lending Version 2 where the entire process can be automated without the need for the Peer to Peer Lending platform in the middle,” BnkToTheFuture CEO Simon Dixon, said. “We invested as we feel peer-to-peer lending is ready to move to version 2 with years of learning behind the market now,” he added.
CredibleFriends users can set credit limits for individual friends, who can spend bitcoin online or in person. Dixon says that the company's mobile wallet allows anyone in the world to act like a bank and issue credit to their friends in seconds.
CredibleFriends platform was launched by the end of April. Dixon pitched a video on BnkToTheFuture which explained about the company, what problem it solves and how, and the company's mission. The video finally invited investors to join the community.
BnkToTheFuture is a global online investment platform that allows qualifying investors to invest in financial innovation including FinTech companies, funds and other new alternative financial products.