Blog News The June Newsletter

The June Newsletter

date July 9, 2020 time 2 min read

Happy July to you,

We hope you’ve had a healthy and productive June. We certainly did and we’ve got some very exciting new features to show you. Let’s dive right in.

Earn up to 11% APR with Loan Originator

Craving new investment options? You’re in luck. This month we launched Loan Originator where you can earn up to 11% APR lending to borrowers across the globe.

Loan Originator lets you invest in small businesses and individual borrowers through regional loan origination partners like Cubefunder and Dozerplati (and many more to come). You can invest in a small selection of loans now and we’ll add more in the future. 

Origination partners come from all over the world with different borrowers, missions, loan terms, and rates. All lending is secured by a buy-back guarantee. 

We think loan origination is the future of P2P lending. Check out our blogs on what is a loan originator and how our service is different from the rest.

Multi-collateral loans

No one likes getting liquidated. This month we made it much easier to keep your crypto collateral secure by allowing you borrowers to top-up with any collateral in your wallet. This works both ways too. You can now pool the value of all of your spare cryptos for a single loan.

Multi-collateral loans are a big change to our system so I strongly encourage you to read our blog post on exactly how they work.

And of course, we realize that some of you may still want to use single collaterals for your loans. We added an “isolate” function that lets you switch from single collateral to multi collateral. Check out our FAQs or the previously mentioned blog post for more information.

Housekeeping

Staking through MyConstant has ended. While we love offering you interesting new ways to earn, you can usually get a much more convenient (and often better-paying) experience staking directly into these services. If you had crypto staked with us, all your crypto and rewards have now moved to your collateral balance.

Transfers. As we expand our services, we’re working to get less custodial with your funds. As a result, all wires will now go through Prime Trust’s bank account. 

Here’s a summary of the new transfer methods and limits:

For orders under $2,000 you can use

  • Wire transfers
  • Zelle transfers

For orders over $2,000 you must use

  • Wire transfers

We know wire transfers can be a bit confusing so we wrote a short blog post on things to look out for when wiring funds. We’re also working to introduce a more convenient transfer option so stay tuned!

That about sums it up. Happy investing and remember to diversify!


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Peter Upton

Peter Upton

Community Manager

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