You know how kids always appear to have grown over the summer when they arrive back at school; well, Lendo has been going through a growth spurt as well and has taken more than one considerable leap forward towards achieving its end goal.
Landmark agreement with LC Wealth
Lendo has made an important agreement with LC Wealth in London. This boutique wealth management firm has agreed to accept ELT tokens (and other digital assets) as payment for selected investment products, including its ‘Smart Bonds’, which will be innovative and blockchain based.
The benefit of this to all Lendo members is that the more the usage opportunities that exist for ELT, the greater potential demand for the token will be, and result in a higher probability of the token price increasing.
Lendo has always aimed to create a healthy ecosystem that doesn’t rely exclusively on exchanges. ELT already has utility because owners can use it to pay fees and interest payments on the platform, but we’re delighted to see the utility potentially extended even further by others belief in it and its acceptance as payment for other goods and services.
We’re proud to say that with this venture Lendo is leading the way in innovative, blockchain-based financial products, and at the same time creating a unique utility for ELT in the financial services world.
Market stability is good for Lendo
We’ve also been monitoring the market closely and believe that the relative lack of volatility is good news for Lendo’s community. The reasons behind our thinking are that conventional institutional lenders will be more likely to lend against crypto collateral when there is stability in the crypto markets. This stability helps validate our long-term business model as a bridge between the crypto community and high street financial firms.
Increased crypto asset stability also helps build a healthy ecosystem for the ELT token. Why will it be beneficial? Because it is not only lenders who will look more favourably on crypto; it will be the wealth management firms, payment providers and merchants we speak to, who are preparing to accept crypto assets for a range of goods and services in the future.
Lendo’s one-stop solution
And, we made a video demonstrating that Lendo is in the process of creating a one-stop solution that combines the services of traditional and neo-banking, and is also borderless. While existing neobanks have to some extent answered an emerging need, not one of them offers a single source solution with all the functions and services the consumer now wants. And none of them offer a credit card.
At Lendo we never stay still — we’re always working on the milestones in our roadmap and looking for ways to deliver an outstanding ecosystem.