Pencil Finance Completes $1M Onchain Lending Cycle for 6.6k Students
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Key Points of the news Hito onchain: Pencil Finance completed a course of student loans of $1M totally onchain, delivering capital directly to borrowers with transparent tracking of repayments. Student impact: The protocol helped to finance more than 6,600 students in Southeast Asia, with 50% female borrowers and more than 50% female borrowers. ... Read more
Pencil Finance wraps $1M on-chain lending cycle for 6.6K SEA students
Student-loan infrastructure startup Pencil Finance says it has completed a fully onchain lending cycle worth $1 million, financing education borrowers in Southeast Asia and repaying investors via smart-contract-recorded cash flows. In a Thursday announcement shared with Cointelegraph, Pencil described the milestone as its first “fully onchain” student loan cycle—one where the protocol deployed $1 million [...]
Pencil Finance announced the completion of a fully online student loan cycle for $1,000,000, aimed at some 6,600 students from Southeast Asia and funded by investors linked to Animoca Brands and Open Campus.
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BITRSSPencil Finance completes $1M onchain lending cycle for 6.6K students in Southeast Asia
Pencil Finance said that its first-of-a-kind loan offered financing to 6,600 students in Southeast Asia who were underserved by traditional lenders.
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