Polytrade Finance, a decentralised finance (DeFi) lending platform providing working capital to SMEs in the real world using crypto liquidity, on Thursday announced its listing on cryptocurrency exchange CoinDCX. "$TRADE listing on CoinDCX will provide its 75 lakh-plus Indian users with another avenue to access trade tokens," the decentralised finance platform said in a statement.
Moreover, the listing will increase the liquidity of the $TRADE token and penetration into the wider Indian communities. The listing has been done specifically to cater to the demands of the small and medium enterprises (SMEs) for the working capital in India.
Commenting on the CoinDCX listing, Polytrade MD and founder Piyush Gupta said this has come as a giant leap towards the company’s goal of providing real-world borrowers access to low interest and swift financing to free up critical working capital, tapped from crypto lenders using invoice financing. Prior to its listing on CoinDCX, $TRADE has been listed on some of the world's leading platforms including Kucoin, Uniswap, Quickswap, MEXC, Bitmart, and PancakeSwap. A listing on KoinBazar is on the cards as well.
Since its inception in 2014, Polytrade finance has onboarded more than 5,000 borrowers, funded over 250 borrowers with a cumulative value of USD 500 million from around the world.