Blockchain-based financial system venture, Sweetbridge, has added Edmund C. Moy, former Director of US Mint, to its advisory board.
May lines up alongside the likes of Don Tapscott, CEO of Tapscott Group and Co-Founder of the Blockchain Research Institute and Vinay Gupta, CEO of Mattereum.
“We are delighted to have gotten Edmund’s support for our network at this stage in our growth. As we get close to the individual portion of our public crowdsale closing and turn our attention to corporates and enterprises, his insight and extensive network will be invaluable for turning our vision into a reality,” says Scott Nelson, CEO and Chairman of Sweetbridge.
“We are extremely proud of the calibre of our board and feel it is testament to the revolutionary financial system we are building, that is designed to create a better way.”
Earlier this month, we reported that the Arizona Attorney General’s Office had accepted Sweetbridge as one of the first three projects into its new Financial Technology Sandbox.
Sweetbridge is focusing on token-based asset lending on vehicles. It can now offer blockchain loans backed by real assets, starting with car titles in Arizona. These loans were selected because it felt it was an underserved industry, filled with predatory practices, with average APRs in the triple digits. Up to 10,000 Arizonans will be able to take out loans on their car titles at estimated rates of 20% APR or less.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.