CoinLoan’s September Update 2020

Did you miss us? Our team got a little bit carried away with our 3-rd birthday celebration. Just kidding! To tell the truth, September was a real harvest for CoinLoan.

We started off with a deadly combo — DeFi vs CeFi article followed by our founder and CEO’s prediction on the future of DeFi tokens for Cointelegraph. Finally, the long-awaited instant crypto loans went mobile. On top of that, we received not only a renewed European license, but a new legal name!

DeFi Makes the Better Buzzword, and CeFi Makes the Better Product

If you have any doubts about it, this blogpost will put you out of suspense. It might come as a surprise, but completely decentralized DeFi platforms don't exist in nature. Moreover, in 2018, CoinLoan was a DeFi project.

Since then, the crypto world has realised the inconvenient limitations of DeFi where the transition from a single to a multi-collateral system is celebrated as a big win.

In 2020, CoinLoan users have flexibility to work with different coins and blockchains. You can get a loan, secured by an anonymous asset and even use fiat assets as collateral to borrow some BTC. That’s why CeFi sounds so much better to us!

In this Cointelegraph article our CEO Alex Faliushin explained what’s wrong with DeFi in its current state. He predicts once the hype is over, there will come the dramatic downfall of DeFi tokens.

Undoubtedly, the US Securities and Exchange Commission will take care of DeFi “bubbles,” like they did with ICOs. And there are many more pitfalls like the recent hacking of DeFi platforms.

CoinLoan’s Instant Loans Go Mobile

With this new mobile app feature you can pull out your phone for 20 seconds to apply for a loan or make a scheduled repayment.

Now our iOS and Android apps offer the full functionality of the Instant Loans feature. Click this link to read more about the last missing ingredient to augment our Interest Account and Crypto Exchange in the app.

Update your CoinLoan app to the latest version to benefit from the update:

We’ve Renewed the European License

The September update is that CoinLoan met all the Estonian regulators' new requirements and received our renewed European virtual currency provider license.

While DeFi operates in the grey market, we believe regulatory compliance should be a must for crypto. We are proud to provide our users with a reliable and regulated platform.

From ExFinance OÜ to CoinLoan OÜ

Yes, we have changed the legal name in all documents. We also have a new office in Tallinn, so if you're nearby — run in for a cup of coffee.

Don’t Miss Out on Further Updates

October 2020 is also rich in events:

  • Mobile staking, more convenient than ever.
  • The Affiliate Program that enables you to earn bonuses for promoting CoinLoan.

We have some wicked plans for this Halloween. And we don’t mean trick-or-treating 👻

So stay tuned for more updates!