This week, the California-based FinTech holding firm Vemanti announced plans to host an STO in the coming months. The company partnered with numerous firms including the popular token issuance platform Securitize to ensure the crowdfunding campaign goes smoothly. The decision to host an STO showcases Vemanti’s forward-looking stance on the financial markets and blockchain technology.
In a recent press release, Vemanti’s CEO Tan Tran explained the company’s decision in detail. He described how an STO provides his firm with the most cost secure, effective, and inclusive method to raise capital globally. Also, he praised the company’s partnerships with Securitize and the Digital Securities Law Group (DSLG).
Vemanti seeks to raise capital to further the investment goals in the eLoan platform. eLoan is a peer-to-peer lending platform. This Vietnamese-based firm focuses on small and medium enterprise (SME) and short-term loans primarily. The platform integrates advanced AI-algorithms and a proprietary credit system to facilitate a better UX.
eLoan is one of the only blockchain-based lending firms in Vietnam. Of course, the decision to invest in the firm makes perfect sense when you consider that Vietnam is projected as one of the fastest growing emerging markets in the world. Uniquely, SME’s make up 98-percent of the country’s businesses.
Discussing the partnership, Trung Vo, the CEO of eLoan explained how the agreement allows his firm to expand on their revenue streams and become the dominant force in the market. The Asian Development Bank predicted 6.8-percent growth this year in Vietnam’s economy. The growth potential for eLoan is huge if it can facilitate just a small portion of those business ventures.
For their part, Securitize handles the issuance and management of the tokens. DSLG is responsible for ensuring all the legal requirements are met. Securitize will integrate the regulatory requirements stipulated from DSLG directly into the token’s protocol. This integration ensures that the tokens remain compliant throughout their lifecycle.
Peer-to-Peer lending platforms have become more common around the globe. These blockchain-based platforms allow investors and businesses to do business directly. This direct interaction creates a more favorable environment for both parties. As the first, and one of very few peer-to-peer lending platforms in Vietnam, eLoan gains the ability to direct the market as it emerges.
Vemanti Group Inc
The Vemanti Group Inc (OTC PINK: VMNT) specializes in investment and development of tech firms with high-growth potential. The company focuses on blockchain, AI, IoT, cybersecurity, and other emerging technologies. Vemanti’s success to date is because of their staff’s strong understanding of the emerging markets.
The firm’s CEO, Tan Tran, is no stranger to the FinTech sector. He has more than 25 years of experience in the high-tech sector including employment at Lucent, SMC Networks, Western Digital, and GenBand. This experience and network are critical in recognizing high-tech market trends.
Vemanti Continues to Make Smart Moves
The investment in eLoan seems to be another smart move on Vemanti’s behalf. eLoan has a distinct advantage due to its location and current market stance. Investors are sure to recognize these positive attributes and invest accordingly.