CHAINWIRE Soil's Breakthrough: DeFi Protocol's Business Model Validated by Local Financial Regulator

Transparency directive : regulatory news

26/06/2023 14:01

Chainwire
Soil's Breakthrough: DeFi Protocol's Business Model Validated by Local Financial Regulator

26-Jun-2023 / 13:01 GMT/BST
The issuer is solely responsible for the content of this announcement.

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Soil

Estonia, Tallinn, June 26, 2023 – Soil, the innovative blockchain-based lending protocol, announces that it has received confirmation from the local financial markets regulator that the planned operations on the Soil Platform are compliant with the jurisdiction's regulations. This confirmation is a significant milestone for Soil, as it confirms the validity of its business model assumptions.

Soil is building a self-balancing DeFi protocol that will bridge the gap between borrowers (traditional businesses / private debt founds) and lenders (stablecoin holders). Soil will facilitate a debt marketplace where established companies in various industries can raise funds by applying for loans from stablecoin holders.

"We hired several teams of lawyers from different countries and waited for long weeks to receive official confirmation from the local regulator that the activities planned on our Soil Platform are legal", said Jakub Bojan, CEO of Soil. "Despite this great success, we continue to work and do our best to ensure that our project is at the forefront of the cryptocurrency market and is transparent and safe for our partners and investors around the world."

Prioritising the need for security on the platform, Soil is not only adapting to current regulations but also to the upcoming revolutionary changes for the cryptocurrency world, namely the EU MICA regulation.

With an innovative business model and solid legal support, Soil is well-positioned to launch an innovative lending system. Soil's actions will undoubtedly inspire confidence among the investment community and potential partners in the DeFi ecosystem.

About Soil
Soil is a blockchain-based lending protocol that bridges the gap between traditional finance and the crypto world, reshaping corporate debt and fixed-income investments. It is a debt marketplace where established companies can obtain financing, and crypto investors can lend their stablecoins to earn yield derived from Real World Assets that exist off-chain. Soil revenue model profits from fees earned by connecting lenders and borrowers and arbitrage on the cost of capital.

Contact:
Name: Jakub
Email: contact@soil.co

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The issuer is solely responsible for the content of this announcement.

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1665759 26-Jun-2023

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CHAINWIRE Soil's Breakthrough: DeFi Protocol's Business Model Validated by Local Financial Regulator

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