In an ambitious move towards transforming the credit landscape, PsiFi has announced a strategic partnership with Stormbit, a pioneering peer-to-peer lending protocol, and Quantum3Labs, a leading blockchain development firm based in Singapore. This collaboration is set to redefine unsecured onchain credit, creating a system that is both inclusive and empowering. This was also outlined in our whitepaper.

Stormbit operates under the ethos of “Your loans, your terms: Customized lending for a more inclusive, financially empowered world.”

Their platform enables users to participate in peer-to-peer lending on their own terms, following a trust based philosophy, thus widening access to financial services for a diverse audience. In collaboration with PsiFi, Stormbit will utilize their decentralized finance expertise and the experience gained from their lending services provided to SMBs to jointly develop innovative credit solutions. In this partnership, Quantum3Labs will leverage their expertise in decentralized finance to co-develop innovative credit solutions alongside PsiFi leveraging Stormbit’s Borrower Explorer.

Adding a robust technical backbone to the partnership, Quantum3Labs boasts a team of seasoned blockchain developers. Their mission statement, “With a team of highly experienced blockchain developers, Quantum3Labs is here to support your journey into the world of Web3. Our comprehensive blockchain solutions cater to enterprises and ambitious startups alike. Together, let’s forge a path to your Web3 success with our history of successful projects and skilled developers,” underscores their commitment to advancing the blockchain ecosystem.

Our CEO passionately outlined the vision for this partnership, saying, “One of my deepest passions is transforming the credit scoring system, taking it away from the obscure practices of private entities and banks that too often dictate financial opportunities. The current system is fraught with disparities and unfair practices. Our goal is to democratize and globalize this process, leveraging blockchain technology to ensure transparency and fairness. This way, financial empowerment is accessible to everyone, everywhere.” This initiative aims not just to alter how credit is scored but to transform the entire financial interaction into a transparent, fair, and globally accessible system.

The combined expertise of PsiFi, Stormbit, and Quantum3Labs is expected to deliver a groundbreaking platform that not only meets the current demands for transparency and fairness in financial services but also sets new standards for the future of credit. This partnership represents a significant step forward in making financial services more fair and accessible, paving the way for a more inclusive global financial ecosystem.

Stay tuned as PsiFi, Stormbit, and Quantum3Labs forge ahead on this exciting venture, promising to bring revolutionary changes to the world of credit and beyond.

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