Pencil Finance, the student loan real-world-asset (RWA) protocol on EDU Chain that we are co-incubating with HackQuest, today announced that we, along with Open Campus, have deployed US$10 million in liquidity as loan collateral to facilitate DeFi student loans on the Pencil Finance platform.
Yat Siu, our co-founder and executive chairman, said: “#Blockchain is redefining how #education is funded and developed. By bringing student loans on-chain, this initiative seeks to boost transparency, efficiency, and #Web3 adoption for potentially hundreds of millions of students globally, while also increasing financial literacy. We believe this will have very significant implications for the US$3 trillion student loan market.”
Frank Li, co-founder of Pencil Finance, said: “Blockchain technology allows us to reimagine student lending from the ground up. By bringing loans on-chain, we deliver transparency, efficiency, and access at a global scale, helping students everywhere unlock new educational opportunities.”
Harry Zhang, co-founder and CMO of HackQuest, said: ‘This milestone demonstrates the real-world impact of blockchain in education. On-chain loans empower students and open new opportunities for investors.”
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