The collaboration is expected to help these two companies that work in different vectors achieve a common goal: to push the boundaries of blockchain and crypto adoption and use. In concrete terms, our partnership means there will be listings of ERC-20 and OEP-4 standard Paxos stablecoin (PAX) and Ontology coin (ONT) on the CoinLoan’s lending platform.
With this partnership, CoinLoaners gain access to new currencies for lending and borrowing. At the same time, Ontology users will secure several new possibilities in the lending and borrowing landscapes.
Partnering with Ontology allows our company to enter a new market and to reach some new customers. Further, CoinLoan can now widen the list of options platform users have when lending and borrowing.
“ERC-20 PAX stablecoin has been already listed on CoinLoan for two weeks and evoked considerable interest among platform users. In the upcoming development update, we’re adding an OEP-4 PAX standard and ONT token,” said Alexandr Faliushin, CEO and Co-founder of CoinLoan.
On the platform, two PAX standards will be presented as two different tokens: PAX (ERC-20) and PAXO (OEP-4).
Ontology aims to build a bridge between the real world and distributed data systems. The company supports a range of advanced customizable applications so that businesses and institutions can transit to the blockchain.
The Ontology team believes that projects from different vectors of technology should cooperate to build an open financial system. Their collaboration with a major crypto-lending market player like CoinLoan is regarded as a step towards enabling new application scenarios for Ontology users.
For instance, PAX owners can already lend on CoinLoan to earn up to 22% interest on their assets. Moreover, ONT holders will soon be able to lend their assets or use them as loan collateral to unlock the value of coins while holding.
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