<article>Singapore-based P2P lending solutions provider <a class="tinymce-colortext" style="color: #000080;" href="https://www.crowd-genie.com/" target="_blank" rel="noopener">Crowd Genie</a> plans to conduct an initial coin offering (ICO) of its CGCOIN currency, aiming to raise up to ETHB100,000 ($31.69 million).</article>

Singapore-based P2P lending solutions provider <a class="tinymce-colortext" style="color: #000080;" href="https://www.crowd-genie.com/" target="_blank" rel="noopener">Crowd Genie</a> plans to conduct an initial coin offering (ICO) of its CGCOIN currency, aiming to raise up to ETHB100,000 ($31.69 million).
Crowd Genie is among P2P (peer-to-peer) marketplace lending platforms licensed to operate in the city-state by the Monetary Authority of Singapore (MAS). It focuses on facilitating easier capital access for borrowers, primarily small and medium enterprises (SMEs) looking to grow their business.
Founded by Akshay Mehra and Bikash Saha, the P2P lender commenced operations in 2016. Crowd Genie aims to use the proceeds to develop an end-to-end pan-Asian tokenised lending platform that streamlines capital flows between lenders and borrowers.
CGCOIN token holders will be able to invest in businesses listed on Crowd Genie’s platform. The lender plans to couple this with a digital passport to hold verified information of each stakeholder and asset.
It also plans to add a utility to its tokens by helping SMEs build their credit histories by incentivising on-time payments, and real-time data sharing, by adding CGCOIN credits to borrowers with strong credit profiles.
In a statement, Mehra said, “We are looking at building a blockchain-based lending exchange for the Asian market that could dramatically improve the flow of capital, while continuing to be compliant with the regulations. We believe think that the efficiencies of blockchain fit very well with our target of the underbanked population of SMEs in Singapore and in the region more broadly.”
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Singapore-based P2P lending solutions provider Crowd Genie plans to raise up to $31.6 million through an ICO to fund regional expansion.

Singapore: P2P lender Crowd Genie targets raising up to $31.6m via ICO

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Singapore: P2P lender Crowd Genie targets raising up to $31.6m via ICO

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