Blockchain Fintech News

Indonesian Blockchain Startup Tokoin Introduces DeFi Program to Help both Investors and MSMEs

Indonesian Blockchain Startup Tokoin Introduces DeFi Program to Help both Investors and MSMEs

Tokoin, an Indonesian startup using blockchain technology to reduce the barriers that small and medium scale enterprises face while trying to access credit, has introduced the BISS (Blockchain Innovative Smart Savings) DeFi Program to benefit both investors and partner enterprises.

Read More: Stripe Will Acquire Paystack to Accelerate Online Commerce Across Africa

In this program, investors can lock up a certain minimum amount of Tokoin’s native token TOKO and USDT for a period of 3 months, and earn a fixed interest rate on their USDT funds. On Tokoin’s part, the accumulated funds will be used to provide short term loans to the partner MSMEs.

What sets BISS DeFi apart from many other similar programs is that here investors are paid in stablecoin USDT, which guarantees a fixed income irrespective of the market conditions.

Eddy Christian, COO of Tokoin, said, “We are excited to launch BISS DeFi, as it shows that we are staying true to our mission since day one, which is to connect the MSME sector with the traditional financing system. With BISS, we will build trust using blockchain, which will help MSMEs grow their business in our ecosystem.”

Tokoin has introduced 3 distinct tiers with different fund locking requirements, to cater to users with different needs. TOKO staked in any of the ongoing staking programs will also count towards the locking requirement for BISS DeFi.

Read More: ABN AMRO wins Best Overall European Private Bank in WealthBriefing Awards 2020

Related posts

areeba and Discover sign Network Alliance Agreement

Fintech News Desk

EQONEX And Join Forces To Provide Crypto Traders With Automated AI Trading Strategies

Fintech News Desk

Chainlink Awarded as Technology Pioneer by World Economic Forum

Fintech News Desk