Promoted Content

BioCoin Platform Announces Partnership With Blockchain-based Lending Platform RCN

BioCoin Platform Announces Partnership With Blockchain-based Lending Platform RCN
Image credit: Courtesy of Stankevicius MGM

BioCoin platform will provide eco-friendly businesses with an accessible lending backed by its new partner—a p2p lending platform RCN. Thanks to this agreement BioCoin users will be able to lend and borrow platform’s native BIO token within the ecosystem.

BIO token allows the participants of BioCoin ecosystem to trade value within a worldwide network of green businesses in retail and production of eco-friendly goods. Businesses within the ecosystem are entitled to create custom loyalty programs for their customers to earn BIO with every purchase, ensuring proper token turnover and distribution.

“From the very beginning we have envisioned BioCoin platform as an instrument facilitating small businesses and farmers. Lending support is of course key here. BioCoin’s partnership with Ripio Credit Network will allow users to lend/borrow BIO to support a budding green business,” said Boris Akimov, BioCoin CEO.

RCN, previously known as BitPagos and Ripio, is a p2p credit platform employing smart contracts and its native ERC-20 token—RCN. To assess the loan terms and check both parties’ credit reliability RCN network employs a cosigner (guarantor).

“We can definitely help BIO enhance crediting framework for BioCoin platform and use BioCoin as lending capital,” said David Garcia, RCN’s partner and SVP.

The partnership will allow BioCoin to tap into a vast pool of expertise in blockchain-based crediting and build a reliable lending infrastructure. Boris Akimov mentioned that two projects share the ethics of responsible approach to nature and resources, which made partnership between BioCoin and RCN the most rational step towards the greener future.

Recently, BioCoin has partnered with Bitwallet payment provider to issue BioCoin-compatible MasterCard debit cards. BIO token offering, held to raise funds to cover further development, has passed the mark of $9 million and will be available until December 1st. RCN token sale has successfully raised $37 million earlier in November.

More from Entrepreneur

Jason's expertise and experience can help you with storytelling, motivation, and pitching your business to media.
Book Your Session

In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book.
Apply Now

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.