Vency and IBShop Collaboration: Pioneering Collateralization of Investment Fund Units for Loans in Iran
According to Iran digital economy annotation, Vency and IBShop have signed an agreement to enable the collateralization of investment fund units for loan acquisition.
According to Vency’s public relations, on August 22, 2024, during the 16th Financial Industry Exhibition, Vency and IBShop signed an agreement to allow investment fund units to be used as collateral for loans, marking a first in the country. This collaboration was officially announced by Ahmad Vatani, CEO of Vency, and Peyman Baghcheh-Sara, CEO of IBShop, at the Financial Industry Exhibition.
IBshop, online investment system
Vency operates as a lending tech platform specializing in the collateralization and provision of loans with digital assets. Vency’s vision is to accept a broad range of digital assets to offer online loans to various segments of society. On the other hand, IBShop, as an online investment platform, provides users access to various investment funds regulated by the Securities and Exchange Organization. These funds assist users in engaging in the capital market with minimal knowledge and experience by purchasing units of different funds.
As part of this collaboration, for the first time in Iran, the possibility of using investment fund units covered by IBShop as collateral with Vency’s cooperation is being introduced. Individuals can now secure loans from Vency by pledging their investment fund units. These loans are available in three different formats: credit purchases with a specified use, credit cards for purchases to be used within the country’s banking system, and cash loans.
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