Pencil Finance raised $1 million for first blockchain-based student loans.Pencil Finance raised $1 million for first blockchain-based student loans.

Animoca-backed Pencil Finance issues first ever blockchain-based student loans

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 Philippines and Indonesia. Capital will be distributed through ErudiFi, which will then issue student loans for tuition funding to university students.

At the same time, users who provided the capital will earn yields based on student loan repayments. Specifically, $750,000 of the capital will offer a fixed 15% annual percentage yield. Another $250,000 will offer variable APY with first-loss risk.

Blockchain to expand educational opportunities

The platform was launched with support from Hong Kong-based blockchain conglomerate Animoca Brands. Yat Siu, co-founder and executive chairman of the firm, believes that Pencil Finance demonstrates the real-world, positive use cases for blockchain.

This sentiment was echoed by Frank Li, co-founder of Pencil Finance, who stated that blockchain can have a meaningful social impact. The goal, he explained, is to make education across the world more accessible.

Animoca Brands is a game developer, NFT platform, and venture capital firm focused on crypto businesses. The company funds a large number of crypto-based startups, especially in Asia.

Market Opportunity
Everscale Logo
Everscale Price(EVER)
$0.00835
$0.00835$0.00835
+0.24%
USD
Everscale (EVER) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Shocking OpenVPP Partnership Claim Draws Urgent Scrutiny

Shocking OpenVPP Partnership Claim Draws Urgent Scrutiny

The post Shocking OpenVPP Partnership Claim Draws Urgent Scrutiny appeared on BitcoinEthereumNews.com. The cryptocurrency world is buzzing with a recent controversy surrounding a bold OpenVPP partnership claim. This week, OpenVPP (OVPP) announced what it presented as a significant collaboration with the U.S. government in the innovative field of energy tokenization. However, this claim quickly drew the sharp eye of on-chain analyst ZachXBT, who highlighted a swift and official rebuttal that has sent ripples through the digital asset community. What Sparked the OpenVPP Partnership Claim Controversy? The core of the issue revolves around OpenVPP’s assertion of a U.S. government partnership. This kind of collaboration would typically be a monumental endorsement for any private cryptocurrency project, especially given the current regulatory climate. Such a partnership could signify a new era of mainstream adoption and legitimacy for energy tokenization initiatives. OpenVPP initially claimed cooperation with the U.S. government. This alleged partnership was said to be in the domain of energy tokenization. The announcement generated considerable interest and discussion online. ZachXBT, known for his diligent on-chain investigations, was quick to flag the development. He brought attention to the fact that U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce had directly addressed the OpenVPP partnership claim. Her response, delivered within hours, was unequivocal and starkly contradicted OpenVPP’s narrative. How Did Regulatory Authorities Respond to the OpenVPP Partnership Claim? Commissioner Hester Peirce’s statement was a crucial turning point in this unfolding story. She clearly stated that the SEC, as an agency, does not engage in partnerships with private cryptocurrency projects. This response effectively dismantled the credibility of OpenVPP’s initial announcement regarding their supposed government collaboration. Peirce’s swift clarification underscores a fundamental principle of regulatory bodies: maintaining impartiality and avoiding endorsements of private entities. Her statement serves as a vital reminder to the crypto community about the official stance of government agencies concerning private ventures. Moreover, ZachXBT’s analysis…
Share
BitcoinEthereumNews2025/09/18 02:13
Zimbabwean Doctor Pushes for Appeal in $550,000 Crypto Theft Case

Zimbabwean Doctor Pushes for Appeal in $550,000 Crypto Theft Case

The post Zimbabwean Doctor Pushes for Appeal in $550,000 Crypto Theft Case appeared on BitcoinEthereumNews.com. A prominent Zimbabwean eye specialist is demanding
Share
BitcoinEthereumNews2025/12/20 20:59
Load The Bags! Bitcoin MVRV Hits Key Accumulation Threshold

Load The Bags! Bitcoin MVRV Hits Key Accumulation Threshold

The post Load The Bags! Bitcoin MVRV Hits Key Accumulation Threshold appeared on BitcoinEthereumNews.com. Load The Bags! Bitcoin MVRV Hits Key Accumulation
Share
BitcoinEthereumNews2025/12/20 21:10