Lendingblock, the open exchange for cryptocurrency loans, today announces it will list its Lendingblock (LND) token on the HitBTC exchange from May 2018. HitBTC is one of the most advanced cryptocurrency exchanges in the world with a daily trading volume of over $250 million.
Lendingblock is the first company to bring cross-blockchain securities lending to the crypto world, enabling borrowers and lenders to specify the digital asset they need or are willing to loan. It will be launching in Q3 2018, with Bitcoin, Ethereum and Ripple as the first lending currencies.
The LND token, which is ECR-20 compliant, functions as the currency of use within the Lendingblock economy. Interest payments for loans paid by borrowers and received by lenders will made using LND. For example, a loan of BTC secured by ETH collateral will result in lenders being paid LND by the borrower. Lenders can then use this earned LND to pay interest on loans of their own, or sell the LND in a secondary market to other borrowers.
Linda Wang, COO and co-founder of Lendingblock, commented: "We are delighted to be listing our Lendingblock (LDN) token on HitBTC after the completion of our ICO. HitBTC will allow investors fast, secure and liquid access to our token."