By bridging the best of two worlds of traditional banks and the world of cryptocurrency into one peer-to-peer (P2P) financing platform, iP2PGlobal will be opening up financing to a big Muslim population (estimated 2.18 billion) who want to borrow and lend according to Sharia finance principles. On why Sharia finance principles, Mr Rashdan Ibrahim, director of IP2PGlobal Management Team, said lending should belong to an area of altruistic cooperation, and should not be motivated purely by profit..
He said the team decided to make Ethereum (ETH) as their main currency for financing and investment through the platform due to its strength and liquidity in the cryptocurrency market. Rashdan said the strength of the iP2PGlobal management team of five including himself, consists of individuals with vast experience in banking, debt origination, bond trading and fund management..
The TWQ (Tawarruq) is an ERC20 token that confers the right to the token holder to submit an application for a personal financing based on a Commodity Tawarruq Trading program, through the iP2PGlobal platform and have it listed in the platform for prospective lenders to view and choose to finance. Rashdan said 10 TWQ is needed to apply for a personal financing of up to 5 ETH..
iP2PGlobal brings together best practices of traditional banks and the world of cryptocurrency into one peer-to-peer (P2P) financing platform. This is powered by its newly introduced utility token, TWQ, which is based on Ethereum’s ERC-20 Smart Contract Platform..Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full