Lendo has announced that it has closed the pre-ICO sale ahead of time. This follows the successful conclusion of a negotiation with a lending partner to retain the all remaining tokens allocated in the pre-ICO.
The company launched an open pre-sale which is expected to run until April 28th, 2018. At the start of this year, the company revealed the full details of its public crowdsale after the completion of the pre-ICO phase. By closing the pre-ICO 12 days earlier then expected, the company is well placed to meet its milestones as planned.
The fintech company, which is based in UK, has attracted the attention of the world financial sector and promises to fill the gap between traditional finance and the crypto world. This is a fascinating but practical idea that has caught the attention of the financial sector. The company recently completed a pre-ICO ahead of schedule, a clear indication that it attaches a lot of value to its commercial vision. The pre-ICO was completed on time thanks to institutional participation.
The crypto market is rebounding
The crypto market has rebounded in the recent days following shaky start of the year. The recent slump has demonstrated that it is still an infant market. The market has maintained persistent growth despite several challenges, which is an indication that it is here to stay. Financial services that don’t want to be left behind by upcoming trends in the industry will have no option but to update their systems and include cryptocurrency.
Lendo is right on target for its ICO crowdsale launch
The company is right on schedule to launch its ICO crowdsale and it seeks to distribute an additional 390 million ELT tokens. This will largely help in turning the company’s vision into a reality. The company will issue the tokens in accordance with the ERC223 standard and will be sold at $0.20 per token.
This is just the beginning
In recent months, a number of key players in the financial industry have stated their intention and willingness to enter the blockchain financial world. Paul Lowin, the Business Development Manager at Lendo, says they are being approached by several regulated lenders who have shown their intention to participate. He adds that the company’s business model has a lot of potential which many investors are finding attractive. He said that the company is working on getting fully regulated to become a loan platform.