At this month’s 2023 Futurist Blockchain Conference in Ontario, APX Lending announced its official launch.
APX Lending is a direct-to-consumer, Bitcoin-backed lending platform determined to improve security, compliance, and transparency in the Centralized Finance lending domain.
The fintech was founded by the team behind Coinberry, a Canadian licensed crypto exchange that was acquired last year by Vancouver-based WonderFi.
“We’ve witnessed the challenges and pitfalls that can plague the crypto lending industry,” explains Andrei Poliakov, who serves as chief executive officer. “With APX Lending, we’re determined to set a new standard, prioritizing the safety and security of our users above all else.”
Through APX, the team “carries forward a legacy of over a decade of expertise in establishing and growing compliant cryptocurrency businesses,” according to a statement from the Toronto firm.
“Drawing from our legacy with Coinberry, we’re determined to bring a new era of integrity and reliability to global CeFi lending with APX Lending,” Poliakov affirmed.
APX is registered with FINTRAC in Canada and FinCEN in the USA, underscoring “dedication to compliance and the protection of its clientele.”
In addition to a consumer-facing exchange, APX offers a B2B Software-as-a-Service for banks looking to integrate technology and expand their lending offering.
The company’s chief technology officer, Taha Jahil, recognizes that trust in the crypto industry is “paramount.”
Therefore APX Lending claims to offer “complete visibility of loan collateral on the blockchain throughout the tenure of their loans” as part of an “unwavering focus on safety and security.”
“We aim to set the benchmark by ensuring our users’ collateral remains untouched in [cold] storage, visible and secure,” the CTO stated.
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