Swiss fintech Acredius launches on Cardano
- The integration will allow Acredius’ investors to use Cardano’s cryptocurrency, ADA, to invest in SMEs.
- Acredius will also deploy smart contracts on the Cardano blockchain, allowing for the tokenization of loans.
- ADA price has struggled to break above $0.37 since the rejection at around $0.46 in mid-April.
Acredius, a Swiss lender that provides financing to small and medium-sized businesses (SMEs), has launched on the Cardano blockchain.
The integration will allow Acredius’ investors to use ADA, the native token of the Cardano blockchain, to invest in SMEs and will also provide greater investment flexibility and transparency, the fintech platform said.
In addition, Acredius will deploy smart contracts on Cardano. This will allow for the tokenization of loans, which will make it easier for retail investors to participate in the lending market.
We are thrilled to announce our collaboration with @Cardano_CF to bring the power of blockchain to fintech.
Acredius will deploy smart contracts on the Cardano Ecosystem, supporting growth opportunities for SMEs.
Learn more about this: https://t.co/XQqQCX8vC2#Cardano
— Acredius (@Acredius_AG) May 19, 2023
Cardano to help Acredius revolutionise the lending marketplace
Acredius is a Swiss fintech platform that helps investors and borrowers shape the future of the economy by supporting small and medium-sized businesses (SMEs). The company provides a marketplace where investors can lend money to SMEs, and borrowers can access capital to grow their businesses.
The collaboration with Cardano could spark further adoption of the ADA token, providing new impetus for its value to rise in the future. Elsewhere, it enhances Cardano’s growing ecosystem and outlines the positive impact of blockchain technology in the world.
ADA price outlook
The price of Cardano has been trading below $0.4 since the retreat from the highs of $0.46 in mid-April. ADA bulls have found it difficult to break above $0.37, and the bearish outlook is likely to be helped by a broader lull in the crypto market.
If ADA breaks below the support level of $0.35, it could fall to the next support level of $0.31. However, should bulls reclaim the $0.40 in coming weeks, a retest of the resistance level at $0.43 could rally to the next resistance level currently at $0.48.