Blockchain-based lending platform Soil says it’s ready for prime time after achieving compliance with Estonia’s local financial markets regulator.
The startup has created a decentralized finance protocol that aims to bridge the gap between borrowers such as businesses and private debt foundations, and stablecoin holders who wish to lend their capital to earn yield. The protocol hosts a debt marketplace through which borrowers can obtain financing using tokenized collateral. Lenders, who pledge capital to Soil’s marketplace, will earn a highly competitive yield on their stablecoins, Soil says. The protocol’s revenue is derived from fees earned for connecting borrowers to lenders.
Soil said its platform’s compliance with Estonian regulations is a key step for the company as it confirms the validity of its business model. According to Soil Chief Executive Jakub Bojan, the company hired teams of lawyers from multiple jurisdictions to ensure its protocol would be validated b
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