Libra Credit price is $0.00053572
As of now, the price of Libra Credit (LBA) sits at $ 0.00053572. The value of Libra Credit has increased by +4.85% over the last 24 hours.
Libra Credit is a decentralized lending platform built on the Ethereum blockchain which aims to provide financial inclusion and lower the cost of financial services. The platform targets to provide smooth digital lending process encompassing five simple steps - application, verification, credit assessment, collateral deposit, and disbursement. Libra Credit facilitates borrowing against any form of crypto-assets and disbursing loans in the borrower's desired asset. It utilizes smart contracts and a proprietary collateral valuation and liquidation system to ensure a secure platform for lenders and borrowers.
Libra Credit was founded in 2017 by Lu Hua, who acts as the Co-Founder & CEO, and Dan Schatt, who acts as the Co-Founder and COO. Lu Hua comes with vast experience in the payments, financing and risk management industry, while Dan Schatt has worked with leading fintech firms like Stockpile Inc. and has been the General Manager of Financial Innovations at PayPal. In terms of technical advisories, Howard Wu, a blockchain and cryptography expert, plays a significant role.
Libra Credit works by implementing a dual-credit risk scoring mechanism that considers both, the creditworthiness of the pledged collateral and the credit information of the borrower. This ensures a fair and objective risk assessment. Once loans are approved, borrowers are able to pledge any crypto-assets as collateral and receive loans in their desired asset. The agreed terms between borrowers, lenders, custodians, guarantors and liquidators are locked in using smart contracts, ensuring transparency and security.
Unique feature of Libra Credit lies in its dual-credit risk scoring mechanism that takes into account both the collateral and borrower's credit information. This proprietary system helps in making objective and fair loan assessments. It also facilitates a seamles borrowing process enabling borrowers to pledge any form of crypto-assets and receive loans in the desired asset form.
Currently, there are about 675.0M LBA tokens in circulation out of a total supply of 1000.0M LBA tokens.
Libra Credit (LBA) tokens can be purchased from the following YoBit, OKEx. It's important to be careful while making your purchases and ensure that you're using a trusted exchange for your transactions.
Bearing in mind the early stage of development for Libra Credit with respect to its competitors, there is a risk involved in terms of its operational efficiency and effectiveness. Additionally, lack of clarity and in-depth details about the crypto-to-fiat lending part of the platform could involve additional risks. Therefore, it's critical to do your own research before investing.
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