By Kenny S – Crypto Investor - 07-09-2021
Decentralised Finance (DeFi) projects Aave (AAVE) and Compound (COMP) are currently leading the crypto market in the DeFi sector. The two initiatives have managed to build themselves up to become businesses worth billions of dollars, further proving that they are a top-ranked DeFi platform. The large projects have been unable to provide support services to customers who have less money.
DeFi payment loans have been growing exponentially in recent years. BNPL Pay believes that the credit industry is the way to go, especially in cryptocurrency trading and DeFi. Despite these beliefs from the payment company, previous DeFi lending methods have failed. According to the BNPL company, the team has stated that businesses look too much into the reputation of customers that are borrowing money. The company further stated that businesses are ignoring the most significant number of customers ready to purchase through lending methods, and they are customers with little to no capital.
Thorstarter, a decentralised protocol, has made the decision to make BNPL pay a new addition to the network. The payment option will be launched in the next month, September 2021. BNPL Pay is a DeFi initiative that works as a lending protocol; the protocol allows customers with no capital to apply for loans. On the Thorstarter Launchpad, BNPL is reportedly releasing its Initial DEX Offering (IDO), said to take place on September 14. Once the IDO is made available, the company will then issue around 5 million BNPL tokens. Each coin will be worth $0.04 as its starting price to buy crypto BNPL assets.