Collateral Network (COLT) is the world's first Web3 lending platform that streamlines the lending process via blockchain technology and physical-asset-backed loans

Bitcoin (BTC) Futures Index Coming To Argentina, Collateral Network (COLT) Transforms Asset-Based Lending And Ripple (XRP) Secures Partnership With Montenegro

Atalayar

Updated: 26/04/23

This week in crypto, Argentina’s Financial Authority (UAF) announced it will approve the Bitcoin (BTC) Futures Index, Collateral Network (COLT) unveiled a new way to transform asset-based lending as well as entered stage 2 of its presale with a token price of $0.014, a 40% surge already, and Ripple (XRP) secured an important partnership with Montenegro. Let's take a look at each of these stories in more detail.

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Collateral Network (COLT)

Collateral Network (COLT) is the world's first Web3 lending platform that streamlines the lending process via blockchain technology and physical-asset-backed loans.

At the heart of Collateral Network (COLT) lies its innovative use of fractionalized NFTs to collateralize loans. For example, suppose Sarah has a $50,000 art piece and requires a loan for home renovations. In that case, the platform, upon authentication, will create a fractional NFT of her artwork on Collateral Network (COLT), using the physical asset as collateral.

The Collateral Network (COLT) fractionalization approach allows multiple lenders to finance portions of the loan rather than the full amount. This means no minimum loan amounts for lenders, great flexibility, and more liquidity for borrowers.

If a borrower defaults to return the loan, Collateral Network (COLT) will auction the item within the COLT holder community. This allows Collateral Network (COLT) to ensure lenders receive back the fully invested amount, including interest.

The native token of the platform, COLT, comes with a range of benefits for its holders. As Collateral Network (COLT) expands, those holding COLT tokens can enjoy lower interest rates, decreased transaction fees, staking rewards, governance rights and more.

With a chance to change the billion-dollar lending market, it is easy to see why more than 24 million COLT tokens have sold during the Collateral Network (COLT) presale. Here, investors can pick up discounted COLT tokens for just $0.014 before the public sale launches.

Bitcoin (BTC)

Argentina's securities regulator has approved a Bitcoin (BTC) futures index on the Matba Rofex exchange. This marks a significant milestone for the Bitcoin (BTC) market in Latin America, as the Bitcoin (BTC) futures contract is expected to be the region's first regulated offering of its kind. Trading for the new Bitcoin (BTC) futures contract is slated to begin in May.

This news comes in the same month that Hong Kong announced that they would soon begin opening up to Bitcoin (BTC) trading. It seems that the world is slowly but surely becoming more crypto-friendly, with regulators around the world recognizing the potential of Bitcoin (BTC) and other decentralized currencies.

The Bitcoin (BTC) price is responding well to this bullish news, as the Bitcoin (BTC) price has surged to over $30,000 for the first time in ten months. Bitcoin (BTC) is currently trading at $28,569.43, with analysts predicting that Bitcoin (BTC) will consolidate under the $31,000 resistance level until enough volume enters the market.

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Ripple (XRP)

The Central Bank of Montenegro (CBCG) has announced its plans to collaborate with Ripple (XRP) in developing a strategy and pilot program for the country's first digital currency. By partnering with Ripple (XRP), the CBCG aims to leverage the company's extensive experience in blockchain technology and digital assets to develop a secure, efficient and transparent digital currency system.

The price of Ripple (XRP) has responded well to this news, with Ripple (XRP) rising from $0.35 to $0.52 in the last month. This is welcome news to Ripple (XRP) holders who have seen the cryptocurrency suffer from a string of bad news in recent years, topped off with the SEC filing a lawsuit against Ripple (XRP) over its 'unregistered security' sale.

Despite these legal issues, Ripple (XRP) has managed to secure an important partnership with Montenegro. It looks like Ripple (XRP) is set for a bullish 2023 if the current momentum is maintained.