Decentralized financial service platform, Gluwa has been selected as a winner of the Inclusive Fintech 50 competition, moreover, this year Gluwa is picked as the best among nearly 400 eligible applicants.
The co-founder and CEO of Gluwa, Tae-Lim Oh states,
“We are honored to have been selected for the Inclusive Fintech 50 competition”.
Gluwa is a San Francisco-based decentralized finance (DeFi) platform. It was created to provide access to valued currency, credit, or investment opportunities that are free from national boundaries, the venture employs a global team distributed globally such as the US, Canada, South Korea, and elsewhere. Gluwa was selected for the Inclusive Fintech 50, an initiative that aims to explore and leverage early-stage fintech to help achieve a more inclusive financial ecosystem that is based on an assessment over the four criteria namely, inclusivity, innovation, traction, and scale potential.
Furthermore, Inclusive Fintech 50 selects the top 50 global start-up companies working on high social impact financial innovations. Inclusive Fintech 50 aims to promote financial inclusion to the poverty people who may lack basic bank accounts or even identification. So, for the startups, the competition helps them to promote visibility and credibility among investors as well as media partnership exposure. The sponsors of IF 50 are Visa, MetLife Foundation, and Jersey Overseas Aid & Comic Relief, with support from Action and IFC. The initiative is organized by the Center of Financial Inclusion (CFI).
More so, Gluwa is a cryptocurrency startup and it is well-positioned to improve financial inclusion. Gluwa contains a non-custodial crypto wallet, and it is active in the field of decentralized lending. Recently, Gluwa has released the Gluwa Invest Product, which offers users up to 12% APY on their deposits with funds distributed to Gluwa Capital’s international network of fintech lenders aimed towards boosting financial inclusion.
Gluwa’s cryptocurrency, Creditcoin, puts down the foundation for a decentralized credit ecosystem by recording lending contracts on a decentralized blockchain. Therefore, Creditcoin builds a global marketplace for lenders everywhere to help the disenfranchised, underbanked of the world.