Blockchain-Based Lending Platform, Cereal, Readies for the $20 Million Public Sa

[Goodcat49]

Cereal – a next-generation platform for cryptocurrency-secured loans – will cater to crypto miners and provide them with the funds that are needed to purchase equipment and to cover operation costs.

Cereal, a visionary fintech platform, has announced the launch date of the CRL token public sale, commencing on July 15, 2018. With an aim to capture the emerging $30 billion cryptocurrency-secured loan market, Cereal was founded by Sergey Vart and is set to pilot in 2018. The platform will introduce users to enhanced liquidity and eased access to fiat money, by providing asset-based loans and directly connecting financial companies with crypto enthusiasts.

“With the adoption of blockchain technology, comes a chance to reinvent the traditional asset-based lending experience, streamline scoring procedures, and, eventually, empower the new wave of crypto enthusiasts. With the Cereal platform, we aim to create a decentralized asset-based lending network that will seize upon previously untapped opportunities for cryptocurrency market participants and will focus on cryptocurrency-secured loans together with loans secured against mining rigs. To power the platform, we have partnered with Giga Watt — the world's first full-service mining solution provider — prior to the start of the public sale,” – said Sergey Vart, Cereal co-founder and CEO.
According to the founders, Cereal’s loans will be issued in fiat currencies, which are still vital for buying new mining rigs and covering day-to-day operational expenses of crypto miners. In particular, Giga Watt's mining equipment will serve as loan collateral and private miners will act as borrowers.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/cereal-readies-for-public-sale-of-crl-utility-token/