Digital asset verification platform bitsCrunch announced its partnership with Pawnfi, a lending and leasing marketplace enabling Non-Standard Assets (NSA) to be appraised and leased fairly, in a release on Monday.
NSA are assets that cannot be easily realised within 30 days and appraised precisely and fairly on an ongoing basis.
After this collaboration, Non-Standard Asset collectors would be able to use the tool Liquify provided by bitsCrunch to determine the value of their NSA holdings on Pawnfi. Thus, use them as collateral, and obtain loans.
Vijay Pravin Maharajan, CEO of bitsCrunch said, “With robust tools, a highly-skilled team, and industry expertise, bitsCrunch offers an integrated solution to ensure consistency in quality and safety across the range of digital assets startups. Collaborating with Pawnfi helps us deliver the best-in-class solutions that address the needs of emerging NSA industry customers while transforming business landscapes.”
Speaking about the partnership, Wesley Kayne, Pawnfi co-founder and CEO stated, “A significant portion of Pawnfi's business is in the NSA market. Since the metaverse is gaining momentum, liquidity and user base will be much higher than those associated with standard assets. We will continue to put forward innovative functions to ensure Pawnfi's advantage in the scale of assets it covers. Partnering with bitsCrunch helps us do it in a more comprehensive and secure way.”
Copyright©2023 Living Media India Limited. For reprint rights: Syndications Today