Fintech Startup LendingRobot Uses Blockchain To Launch Automated Hedge Fund
A Bellevue, Washington-based startup has launched an automated hedge fund to buy credits from online lenders using blockchain technology, according to The Wall Street Journal. Algorithmic Inc., which does business as LendingRobot, is targeting a return of 7.5% net of defaults. The service began in 2012 automating retail investors’ purchases of loans from LendingClub Corp. and other online lenders. The service now has more than 6,000 clients with over $110 million in assets. Algorithms Rebalance Funds. LendingRobot algorithms will automatically move investor funds among four options based....
Related News
Alternative lending platform LendingRobot has taken its first step toward moving the assets it currently manages to a blockchain. As part of its newly launched LendingRobot Series of investment products, the platform – which has $120m worth of assets currently deployed – will begin to post detailed accounts of some of its investments to the public ethereum blockchain. The investments themselves will still be conducted off-blockchain using the P2P lender’s existing infrastructure. But the process of hashing detailed, anonymized accounting records to a blockchain marks the beginning of a....
Professional traders using high-speed, automated trading are now responsible for 80% of bitcoin trading, according to Bloomberg. Bitcoin offers arbitrage opportunities across different exchanges, zero transaction costs on the Chinese venues hosting most of the activity, round-the-clock trading, and co-location services allowing participants to align their servers with exchange servers. As trade volumes reached record levels this month, according to Bitcoinity.org, opportunities exist for automatic traders to reap record profits. Profiting From an ‘Imperfect’ Market. Zhou Shuoji, a former....
Egyptian banks are reportedly on course to launch a $69.6 million fund which is earmarked to support the country’s fintech companies. According to a report, this fund is expected primarily to target the digital banking and financial services sector.
Fintech Apps Targeted
Fintech apps that can extend banking and financial services to all segments of society in a cost-effective way will also be targeted. So far, only the National Bank of Egypt, Banque Misr, and Banque du Caire have been identified as the financial institutions that are participating in this initiative.
....
At the LA Blockchain Summit, the blockchain and fintech venture studio Draper Goren Holm announced the launch of a $25 million blockchain fund called “Fund 1.” According to the announcement the money will be used for promising blockchain and fintech startups in Series A and seed investments. On October 6, 2020, the Los Angeles-based venture studio Draper Goren Holm revealed the launch of a new blockchain and fintech fund at the annual LA Blockchain Summit. The studio Draper Goren Holm is basically a partnership between Josef Holm, Alon Goren, and the well known venture....
Marshall Wace is reportedly still discussing the size of its new digital currency-related portfolio with potential investors. Marshall Wace, a London-based hedge fund giant managing about $55 billion in assets, is reportedly planning a major move into cryptocurrency and blockchain investment.The hedge fund firm is preparing to launch a dedicated portfolio, targeting investments in the digital asset industry, the Financial Times reported on Tuesday.Citing anonymous people familiar with the matter, the report notes that the new initiative will focus on investing in privatelyowned digital....