In a few weeks until the end of 2021, we will celebrate the most successful year in DeFi’s history. Several ATH records have been broken, new ecosystems have emerged showing that Ethereum is not the only build-up layer for DeFi, and a whole new paradigm showing that traditional banks really need DeFi. To highlight the latter, we can mention notable examples of how the European Investment Bank issued € 100 million digital bonds on Ethereum and Société Générale, the third largest bank in France, which lends $ 20 million to MakerDAO. Both examples are of European origin – the Old Continent was home to the first recorded banks in human history and has been a leader in the field for centuries. Without a doubt, Europe is also the largest crypto economy in the world with over $ 1k in transactions, mostly from DeFi.

Coming soon is a new protocol that closes the gap between DeFi and TradFi from Europe: Credefi – a FinTech and DeFi protocol hybrid solution that connects stable crypto lenders with small and medium-sized enterprises (SMEs) from the real world economy.

Founded out of the need to solve big problems and DeFi and TradFi:

• DeFi’s inconsistent returns fizzle out during bear markets and speculative borrowers are fickle and unable to keep up with the supply of DeFi credit
• The difficulty for small and medium-sized businesses to get financing from traditional banks at interest rates does not jeopardize the future of their business.

Credefi enables secure and decentralized lending of corporate portfolios, protects lenders and at the same time offers them a fixed APY that is independent of the volatility of the crypto market. Credefi achieves this through three product lines:

• Loan portfolios are broken down into portfolios that are found based on the risk profile of each underlying project.
• Peer-to-peer lending enables lenders and borrowers to directly agree on the terms of a transaction.
• Trade finance enables guarantees of letters of credit and lines of credit for cross-border transactions.

Credefi is the first blockchain project to enter into a major partnership with a leading institution in traditional finance: Experian – one of the three largest credit bureaus that aggregates data for over 1 billion companies and customers in more than 40 countries. Experian will validate and calibrate credit scoring models developed by Credefi to assess the risk of borrowers coming onto the platform. Experian and Credefi will also develop strategies on how blockchain technologies and open banking data can provide easy access to finance for SMEs.

Credefi is on the verge of a $ 1.8 million fundraising success, led by Marshland Cash and Moonrock Money. The protocol also completed one of the best IDOs on Cardstarter – Cardano’s flagship startup platform by raising $ 420,000.

Credefi is now listed on the central Prime 1 exchange for Altcoins – KuCoin. Credefi’s native token, $ CREDI, is currently actively trading on KuCoin in the CREDI / USDT pair. To underline its cross-chain interoperability goals, Credefi is also traded on UniSwap under the Premium CREDI / USDT and on PancakeSwap in the CREDI / BUSD pair. Credefi is working on further CEX listings in the near future.

Credefi is part of DeFi’s new paradigm of connecting the space with TradFi and eventually merging them into one seamlessly working financial system. 

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