Animoca-backed Pencil Finance issues first ever blockchain-based student loans
2025-07-10 13:17:18
Main Idea
Pencil Finance raises $1 million in on-chain capital for student loans, focusing on expanding educational opportunities in emerging markets like the Philippines and Indonesia.
Key Points
1. Pencil Finance raised $1 million in loan capital on its platform to expand educational opportunities in emerging markets, particularly in Asia.
2. $750,000 of the capital offers a fixed 15% annual percentage yield, while $250,000 offers a variable APY.
3. The initiative aims to provide transparent and efficient funding for students in emerging markets through blockchain technology.
4. Frank Li, co-founder of Pencil Finance, emphasized the social impact of blockchain in making education more accessible globally.
5. Animoca Brands, a blockchain conglomerate, supports the initiative, highlighting its potential to benefit students worldwide.
Description
Pencil Finance raises on-chain capital for student loans, issuing $1 million in real-world loans. Real-world assets are increasingly finding applications in real life. On Thursday, July 10, Pencil Finance, the student loan real-world asset protocol, issued its first-ever student loan capital raised entirely on-chain. The $1 million in loan capital, raised on the Pencil Finance platform, will be used to expand educational opportunities in emerging markets. The focus will be on Asia, including the...
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