This article was first published on OntologyNetwork - Medium
Ontology is pleased to announce its partnership with CoinLoan, a crypto-backed lending company. Through this partnership, CoinLoan will list OEP-4 standard Paxos stablecoin (PAX) and Ontology coin (ONT) on its lending platform and crypto exchange.
The collaboration is expected to help these two companies that work in different sectors achieve a common goal: to push the boundaries of blockchain and crypto adoption and use. With this partnership, CoinLoaners will gain access to new currencies for lending and borrowing. At the same time, Ontology users will secure new possibilities in lending, borrowing, and trading scenarios.
“ERC-20 PAX stablecoin has been already listed on CoinLoan for two weeks and evoked considerable interest among platform users. In the upcoming development update, we’re adding an OEP-4 PAX standard and ONT token. Both currencies will be available on the CoinLoan crypto exchange in trading pairs with EUR,” said Alexandr Faliushin, CEO and Co-founder of CoinLoan.
The Ontology team believes that “projects from different vectors of technology should cooperate to build an open financial system. Our collaboration with a major crypto-lending market player like CoinLoan is a step towards enabling new application scenarios for Ontology users.”
CoinLoan is a crypto-backed P2P lending platform well known for its flexible user conditions. It provides an opportunity to lend and borrow fiat money, crypto, and stablecoins secured by crypto-collateral.
CoinLoan’s crypto exchange feature allows users to convert crypto into fiat and vice versa without having to leave the platform. Partnering with Ontology allows CoinLoan to enter a new market. Furthermore, CoinLoan can now widen the list of options platform users have when lending and trading.
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OntologyNetwork - Medium