Cryptocurrency exchange Bitfinex is launching a new peer-to-peer lending tool in the first week of August.
The tool – called Lending Pro – will allow users to manage lending based on their own specifications and market conditions.
“Once customers have to input their preferred settings, Lending Pro will use those settings and market conditions to automatically offer and extend lending in our P2P marketplace, on the customer’s behalf,” said Paolo Ardoino, chief technology officer at Bitfinex.
“Lending Pro potentially allows users to increase their earnings by automating the management of crypto lending in the platform’s P2P lending portal.”
The P2P service will allow users to access a calculator page which offers a summary of earnings so that they can make better projections on their potential earnings.
It will also feature a lending form, which enables users to make bids or offers for all currencies on a single page.
A distribution panel will allow all users to evaluate their distributions and identify tokens offering the best rates to fund.
“Lending Pro provides our users with a tool to automate P2P lending, and earn passive income on their crypto,” added Ardoino.
“By deploying advanced automated technologies we’ve created a tool that will help our growing user base maximize their earning efficiency on the crypto held on our exchange.”