Looking to boost their global lending solutions, RCN Network, the global credit protocol based on smart contracts technology that has recently raised +$50M in its token sale (122,000 ETH / $400), joins forces with Exchange Union, the cross-exchange trading network backed by the renowned blockchain-focused business group Digital Finance Group, by exploring a partnership.
In this partnership, all digital asset exchanges which are members of Exchange Union would be able to integrate the RCN protocol, acting as credit exchanges and allowing their users to become lenders within the RCN network, whilst improving trading efficiency and ensuring liquidity. Exchange Union has several industry big names in its core team and an advisor board from leading companies such as Brave, LedgerX, Unocoin, RSK, Purse and OKEX, among others.
“I’m amazed by the RCN technology and its team, they’re working on a very disruptive project and these types of use cases with strong demand for liquidity and accessibility are the ones that Exchange Union is looking to support and help,” states James Wo, CEO and co-founder of Exchange Union.
Exchange Union and RCN Network are now working on test pilots with their corresponding technologies, aiming to launch a beta version during 2018.
“This alliance is a huge step towards our global business strategy. The RCN Network has taken a year of hard work and it’s really great watching our idea develop hand by hand with such a great project as Exchange Union,” says David Garcia, partner and SVP at RCN.
RCN has recently launched its first credit exchange implementation through the argentinian-based crypto company Ripio (whose core team developed the idea behind RCN), using the network protocol smart contracts to allow loan requests from the current 130,000 Ripio wallet users.
About RCN Network
RCN is a smart contract-based global p2p credit protocol that connects lenders and borrowers located anywhere in the world (on any currency) guaranteeing transparency and reliability in the lending. By reducing traditional banking brokerage costs and management fees, RCN allows better conditions for both sides. RCN leads the road towards credit democratization, offering a solution to traditional banking system alternatives.
About Exchange Union
Exchange Union connects digital currency exchanges around the world to offer users access to all traded pairs at the best market price. Exchanges benefit from increased liquidity and access to a broader user base. XUC, its cross-exchange trading token, fuels each trade and improves functionality and efficiency.