Cephas Enters Bitcoin Peer to Peer Lending Business
Cephas Holding Corp (PINKSHEETS: CEHC) today announced that it has entered into the bitcoin peer to peer lending business.
Cephas has begun lending bitcoin to borrowers on the BTCjam platform. Historical rates of return have averaged 19.3% on loaned bitcoin on the platform according to the company.
The platform is a global marketplace connecting lenders looking for attractive returns with borrowers looking for access to credit. It uses an online, peer-to-peer reputation system in lieu of traditional credit scores to qualify borrowers across in the world and allow them to build a transparent credit profile on the platform. Loans are made and repaid seamlessly using bitcoin.
In the past year, the fiat currency peer lending platforms in the United States issued $2.4 billion in loans. If current trajectories continue, the US market total for could be $6.7 billion in issued peer to peer loans of fiat currency in 2014.
Cephas anticipates building a portfolio of bitcoin based loans as the market grows.
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. The company's bitcoin businesses are currently at a preliminary stage and may not materialize in any meaningful fashion. Projections of rates of return on any bitcoin loans are extremely speculative and should not be relied upon. These forward-looking statements are based upon current estimates and assumptions and are subject to substantial risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its Bitcoin business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.