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LendLedger Prepares for Protocol Launch, Retains New Alchemy

LendLedger

LendLedger, in preparation for its September protocol launch, has retained New Alchemy, a leading advisory group in the blockchain and tokenization industry.

LendLedger aims to bridge the global lending gap between institutional lenders and informal and small business owners. The focus: connecting lenders to borrowers’ unleveraged digital financial data, making it viable to offer loans to previously untapped borrower segments.

Seattle-based New Alchemy has extensive expertise in helping businesses create and launch new tokens and crypto projects. Their tokenization services include smart contract development, project management, and token game theory.

LendLedger uses open APIs, Stellar blockchain technology and the LOAN digital asset to connect data providers, lenders and borrowers. Each party controls the transfer of their encrypted data, and interactions are both secure and transparent. LendLedger’s L-Data and L-Lend software provide digital data for credit decisioning, and to originate and manage loans.

LendLedger was founded by digital finance veterans Gautam Ivatury and Manish Khera. Their India-based lending platform, ArthImpact (branded Happy Loans), has made more than 15,000 loans to small businesses totaling over $8 million since February 2017. Its data-driven model leverages partnerships with India’s largest payments, mobile wallet, and money transfer networks.

“The volume of digital data is exploding — including spending and sales data for businesses in the informal sector. LendLedger creates a protocol that can connect data sources and lenders, while keeping control and privacy in the hands of borrowers. It gives the financial industry an open, scalable architecture for the future,” Mr. Ivatury said. “LendLedger creates value for every party in lending ecosystems. It unlocks capital for deserving small businesses, and provides growth opportunities in underserved markets for lenders, data providers and other service providers.”

“Smart contracts and blockchain technologies can decentralize and democratize economic relationships of many sorts,” said Theron Andrews, New Alchemy vice president of client marketing. “We believe that blockchain technologies have the potential to democratize and reduce the cost of a lending service, such as LendLedger’s. We are excited to be working with a leader in this space, such as LendLedger.”

Restricted Areas: LendLedger’s protocol and LOAN digital asset will not be available to citizens, residents (tax or otherwise), or green card holders, of the United States, China, and the UK.

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