The high interest rates of unsecured loans are usually associated with unsafe loans; interest on costs reduction is one of the most important motivations in the securitization sector, which is often done via the credit advancement to make it appealing on both borrowers and lenders.
An unsecured loan refers to a loan that is not protected and secured by any asset. With this case, the lender is at high risk and will likely charge a higher interest rate.
With that being said, FintruX Network’s innovative concept solves the three major issues of small time business (especially startups) to borrow from accredited investors, lenders, and financial institutions.
The FintruX Network (FTX) is one of the world’s first block chain – based online market and auto – administration crypto platform that connects and enables the following to configure and construct real – time:
- 3rd Party Guarantors
- Specialized Service Agents
Provided that, the FintruX Network interrupts the way unsecured loans are being made and administered.
The Special Features of the FintruX Network (FTX)
The FintruX Network (FTX) aims to transform unsecured loans to highly secure ones. Given that intention, here are the following special features of the FintruX Network:
- Credit Enhancements – With credit enhancements, the network seeks to counterbalance the lender’s credit risk, and to provide surging levels of insurances to cover the loss – therefore increasing the overall credit rating and reducing the interest rates simultaneously – the four surging levels of credit advancement are as: over – collateralization (as an additional collateral), local 3rd party guarantor, cross – collateralization (as an insurance), FintruX ultimate protection reserve.
- No – Code Development – a unique Smart Contract is generated and deployed by the network for each approved loan of users who borrow real – time; this is to provide definite, immutable, and restriction – resistant where arbitration is not required. This process is all made possible by the no – code development feature.
- Open Ecosystem – This feature provides borrowers with post – funding and self – serving administration options and full access to 3rd party rated agencies.
- Instant Matching – This feature simplifies the loan application process
- Refinance and Prepayment – This serves as options to provide borrowers with post – funding, self – service administration.
What is the FTX Token?
The FTX token is the native payment system and universal utility token that is issued by the FintruX Network (fintrux.com). The FTX token serves the following purposes on the crypto platform:
- Rewards users for various participations
- Borrowers and lenders pay for certain transactional fees
- Agencies, guarantors, and the like are being paid with FTX tokens
In addition to that, we have indicated the complete details of the FTX token:
|FTX Token Information||Metrics|
|Token Type||ERC – 20 Compliant|
|Bonus for the First||Up to 5%|
|Minimum Viable Product (MVP)||No|
|Additional Token Emission||No|
|Restricted Countries||China, Canada, Hong Kong, New Zealand and United States of America|
List of the FintruX Network (FTX) Licensed Exchange Sites
Users can buy, sell, and trade FTX token on the listed exchanges below. Simply select an exchange site that honors fiat currencies such as USD, etc. and trade FTXs with other cryptocurrencies such as BTC, etc.
Having said that, the FintruX Network tokens are currently transacted in the following licensed exchange sites to get you started:
|FTX Licensed Exchange Sites||Trading Pairs|
|QRYPTOS||FTX/BTC; FTX/ETH; FTX/QASH|
The Team behind the FintruX Network (FTX)
The FintruX Network (FTX) founding team proudly harnesses decades of experience working in the Fintech industry and securitization sector. With that being said, the blockchain network has been applied with cascading levels of credit advancements to provide exceptional risk reduction towards loans.
Without further ado, here are the key people behind it:
Board of Directors
- Nelson Lin – Founder and Chief Executive Officer (CEO)
- Ng Eng Ho – Chief Operating Officer (COO)
- Yew Poh Leong – Chairman of the Board
- Bob Rinaldi – Business Director
- Brinden Anandakumar – Legal and Compliance Director
- Conrad Lin – Co – Founder and Chief Marketing Officer (CMO)
- Gary Ng – Chief Technology Officer (CTO)
- Aaron Xu – Frontend Developer
- Douglas Thiessen – Blockchain Developer
- Philemon Selvaraj – Data Analyst
Board of Advisors
- Dr. Jonathan Calof – Intelligence Advisor
- Yash Mody – Business Advisor
- Hussein Hallak – Strategic Advisor
- Binh Vu – Legal Advisor
- Victor Yuen – Financial Advisor
- Dan Poh – Compliance Advisor
- Elie Galam – Advisor
- Abhijith Naraparaju – Blockchain Advisor
- Jure Soklic – Banking Advisor
The FintruX Network (FTX) Roadmap Plan
The FintruX Network (FTX) aims to make the borrowing and lending process a no – brainer for both parties. Having said that, we have outlined the development progress that the team has accomplished since its launch:
- Conducted an Ethereum (ETH) R&D (research and development)
- DApp (development application) R&D (research and development)
- FintruX Network concept has been validated
- Whitepaper has been released
- Tokenization has started
- Focused practice
- Wireframe officially ready
- Prototype officially ready
- Open – source has started
- Funding has started
- New team members added
- Alpha test has been conducted
- Real customers has been welcomed
The FintruX Network (FTX) Project
The FintruX Network (FTX) aims to eliminate the need for physical infrastructure and bring the convenience, full automation, growing efficiency, lessen the manual processes, and improve the overall experience of borrowing and lending.
Given that intention, here are the upcoming projects that the cryptocurrency platform has in store for its users:
- To conduct Beta test
- To further develop the FintruX Network
- To organize the services offered
- To improve marketing strategies
- To begin general availability
- To officially go to the market
- To upscale the crypto platform
- To make some extensions
The blockchain-based online market that has an automated administration platform that connects specialized servicing agents, lenders and borrowers to enable them to construct and configure every borrower’s contract in real time is called FintruX.
FintruX has the following features:
It has automatically generated smart contracts that the FintruX network can deploy for every approved loan in real time. That became possible because of FintruX’s no-code development technology.
FintruX can maintain and provide a decentralized review platform for lenders, borrowers and every service agency that has a basis on the Ethereum smart contracts.
The FTX Token is in use to power the FintruX Network. It also works as a way to reward anyone’s participation in the marketplace.
Lenders and borrowers may pay a transactional fee to FTX so they can use the FintruX platform.
FintruX invited their network partners to create innovative asset classes in the ecosystem for the development of the platform. FintruX will provide a marketplace for the lenders so they can trade their loans to one another.
Recently, FintruX releases an official statement that they’ll be listed on HitBTC. It aims to turn into a global platform for companies that deal with virtual currencies. HitBTC is under operation by Hit Techs Limited, and it seeks to turn into a worldwide platform for companies that sell virtual currencies and provide the most advance clearing and exchange technologies.
The developed the platform in 2013 has an agreement of 6 million dollars venture investments. It is a collaboration between experienced traders, software developers, and finance professionals.
One of the most advanced technological products in its class is the core matching engine. It also implements innovative features like superior order matching algorithms, real-time clearing and it became famous for its high availability, fault-tolerance, and uptime.
Everyone knows that the throne will never become vacant. It might be quite early to claim that the king is dead. However, we need to consider that option since people believe Mt. Gox as a fatal mistake. However, the scene is now better because of the entrance of the new exchange service called Hitbtc. Because of the recent comments, reports, analysis, and revelations published on the global web, this newcomer now has the opportunity to collect experience without acting itself as well as observe the happenings.
Any comparison or criticism may get broken. The developers proved that they are farsighted because of the new platform’s key features. It has a state of the art cryptography, two-factor authentication, FIPS validation, LTC/EUR and LTC/USD, BTC/EUR and BTC/USD currency pairs. They announced about these options more than a month ago, and that means the developers proved themselves to be farsighted.
Last February 14, there was a massive investment from a group of entrepreneurs from Israel that empowered the launch. The sum was able to reach 3 million dollars, and it was more than enough for a perfectly timed opening. The page possesses all of the necessary qualities for it to become the branch’s leader since it uses examples that came from not only the existing cryptographic currency services but also the reliable and most respectful giants of the economy and finance like LSE, NASDAQ, and NYSE. Some of the provided actions may be updated or copied according to the Bitcoin and other virtual currencies’ requirements.
Different groups of the auditory – from experts to newbies – get attracted to the excessive features as well as the simple interface and registration routine. It includes the existing pairs of trading like LTC/EUR, LTC/USD, BTC/EUR, and BTC/USD. Everyone who finds the platform interesting may take a look at the statistics and data. It is likely for them to reveal some of the specials soon. They may follow the VIX and BTCX indices so the trading process will get adjusted. The newsfeed ticker is its most distinctive feature that may get updated immediately from various sources of information. Hitbtc’s promising start as a business allowed it to attract some brokerage companies who would want to contribute to the creation of desktop and mobile applications of the service.
Nowadays, the principles of privacy and safety are the primary functions that people would have to observe when they choose and exchanger. The developers were able to work on an impressive set of protection matters when the state of the art cryptography got combined with the FIPS validation and offered the two-factor authentication. Their compliance with the AML guidelines will cover the legislative aspect. However, the administration would have to follow the situation to exclude criminal activities or any suspicious behavior. They are also ready to provide support through consultations 24 hours a day, seven days a week.
Their page is in English, but the team promised to prepare Chinese, Spanish, German, and French translations very soon. As of the moment, the developers are grateful for any pieces of advice or comments from the users so they can make the platform more comfortable. Visit your page and form your own opinion. Only time will show if Hitbtc will support the nature to abhor the vacuum found in the online financial environment.