DeFi lending platform Polytrade finance on Thursday announced its listing on popular domestic cryptocurrency exchange, CoinDCX. $TRADE listing on CoinDCX will provide its 75 lakh plus Indian users with another avenue to access trade tokens, noted the platform in an official statement.
Polytrade, which provides working capital to Small and Medium Enterprises (SMEs) in the real-world using crypto liquidity, has stated that this listing would increase the liquidity of the $TRADE token and penetration into the wider Indian communities. It added that the listing has been specifically to cater demands of the Small and Medium Enterprises (SMEs) for the working capital in the country.
$TRADE is already listed on some global platforms such as Kucoin, Uniswap, Quickswap, MEXC, Bitmart, and PancakeSwap. A listing on KoinBazar is on the cards as well, conveyed the platform.
Speaking on the CoinDCX listing,Piyush Gupta, MD & Founder, Polytrade said, "We are absolutely ecstatic with the listing in India. This has come as a giant leap towards our goal of providing real-world borrowers access to low interest and swift financing to free up critical working capital, tapped from crypto lenders using invoice financing."
Gupta further added, "SMEs in India will have to play a critical role in realizing Prime Minister Narendra Modi's goal of making India Atmanirbhar and a $ 5 trillion economy. Polytrade will ensure that these small businesses have enough working capital at their disposal for smooth operations in these pandemic times."
Polytrade is a blockchain-based decentralized protocol aiming to transform receivables financing connecting buyers, sellers, insurers, and investors for a seamless experience.It brings safe and insurance-backed real-world assets to the crypto world.
The platform will provide real-world borrowers access to low interest and swift financing to free up critical working capital tapped from crypto lenders.
Since its inception in 2014, Polytrade finance has onboarded more than 5000 borrowers, funded more than 250 borrowers with a cumulative value of around $ 500 million from around the world.
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