The global financial landscape is evolving rapidly, yet traditional systems remain inaccessible to millions. Financial leader Alex Vert, the founder of LendSwap and Lendao, aims to change this by utilizing blockchain to democratize access to capital.
Alex Vert’s Journey: From Traditional Banking to Web3
Alex Vert's career began in traditional banking, where he identified systemic flaws in credit processes like high administrative costs and stringent collateral requirements. Transitioning to the fintech industry, Alex successfully led companies across emerging markets. In Vietnam, his platform LendSwap served over 1 million users and issued $500 million in loans. However, fintech solutions had limitations. Alex founded Lendao, a Web3 platform offering collateral-free virtual asset rental.
The Problem with Overcollateralization
FinTech lending protocols heavily rely on collateral to mitigate default risks, excluding individuals and businesses without significant capital. Crypto volatility increases liquidation risks, forcing borrowers to over-pledge assets. This makes CeFi and DeFi lending inaccessible for those in need.
Lendao: A Revolutionary Approach
Lendao addresses the collateral issue through revolutionary rental methods, leveraging cutting-edge technology. Utilizing AI, Lendao assesses borrowers' creditworthiness using alternative data, formalizing agreements with NFT-wrapped leases on the blockchain. This inclusively and transparently provides capital access.
Alex Vert's journey from traditional finance to Web3 exemplifies a deep commitment to solving systemic financial challenges. Through Lendao, access to capital is becoming more democratized, with Alex shaping a future where financial inclusion is a reality for all.
