BioCoin Platform Announces Partnership With Blockchain-based Lending Platform RCN
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.