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Animoca-Backed Pencil Finance Issues First Blockchain-Based Student Loans
Animoca-Backed Pencil Finance Issues First Blockchain-Based Student Loans
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BTCCSquare news:
Pencil Finance, a real-world asset protocol supported by Animoca Brands, has issued $1 million in student loans raised entirely on-chain. This marks the first time blockchain technology has been used to fund educational opportunities in emerging markets, with a focus on Asia.
The capital will be distributed through ErudiFi to university students in the Philippines and Indonesia. Lenders on the platform can earn yields tied to loan repayments—$750,000 offers a fixed 15% APY, while $250,000 carries variable returns with first-loss risk.
Yat Siu, Animoca's co-founder, highlighted the transformative potential of decentralized finance in education. "Pencil Finance demonstrates how on-chain capital can directly empower learners globally," he said.
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