Foxytrade

Foxytrade is the international fiat platform for P2P loans based on blockchain. Foxytrade is a multi-currency platform that supports everything from fiat currencies to the latest crypto currencies. It allows you to send money in an encrypted format and secure it with state-of-the art security measures. It is a P2P exchange platform that brings together creditors and borrowers: loans are issued in the fiat currency of the country where the borrower resides. This allows the currency to be exchanged through the FXTR token if the creditor and the borrower are from different countries. Loan terms are dictated by the market. Loans will be legally enforceable and all relevant documents will be generated in the jurisdiction of the borrower’s country. Banks take a pawnshop attitude toward SMEs, i.e. loans are given only if there is a bail that exceeds the body of a loan. The number of bails is strictly limited: in general, real estate or securities are accepted at the exchanges. Therefore, SMEs are willing to take loans in accordance with the rates higher than the bank ones instead of the possibility of receiving money. In the Russian the lending market, SMEs are claiming annual rates at about 19%, but give 90% of the loans to large companies only. As a result, annual rates of 20-35% have emerged in the P2P lending market, and there is an excess of unmet demand by the investors and borrowers.