FinTech big hitter joins Lodex and BlockLoan

Spiros Margaris has joined the advisory board of Australian FinTech venture Lodez and offshoot BlockLoan.

“What attracted me to Lodex is its unique marketplace business model approach and the team’s excellent strategy execution record,” he says. “Lodex’s real-time, auction-style ‘Loans & Deposits Marketplace’ approach can be seen as the eBay for banking and indeed, this is how I expect the future of financial services to develop. Their unique approach is why I was interested to hear their ideas when they approached me.”

He adds: “Lodex’s use of a third party API is where the future of Open Banking is headed and I think that they are particularly well placed to capitalise on this opportunity. Even with the most trivial glance at their early traction history, it is immediately apparent the success they have achieved: over 40,000 members and $400 million in auctions since November 2017.”

The company also founded and manages BlockLoan, which enables businesses to utilise blockchain technology to help consumers access credit regardless of international borders. “BlockLoan is exciting because, using its equity as collateral, it is positioned to help retail investors safely and securely access the crypto-asset class. This is a game changer,” says Margaris.

ICO

BlockLoan is prepping an initial coin offering (ICO) and wants to further build its platform (60% of which is currently based on the Lodex platform technology) to provide easy access to credit anywhere and anytime through the use of a global blockchain bank-as-a-platform.

“We also want to enable traditional investors to familiarise themselves with crypto using listed equities as collateral through a margin loan facility. The BlockLoan sector possesses a significant amount of potential, as is evident by the fact that in July BlockFi raised $52.5 million for crypto-asset-backed loans.”