A Swiss crowd-lending platform is using the blockchain technology to improve the way it brokers loans to companies. It will also introduce tokens as a currency of valuation.

Swisspeers, a Winterthur-based platform specialized in loans to small- and medium-sized companies is registering transactions on the Ethereum blockchain. The company is going to use the so-called Smart Contract developed specifically for its purposes, Swisspeers said on Thursday.

Crypto Accounting

The offering comes as a first step into the transaction business with cryptocurrencies. The conditions set out by Smart Contract include a provision that each loan is defined by an amount of tokens. The company is booking the relevant number of tokens into their Ethereum wallets.

The real payments however are still being made in Swiss francs and not in crypto coins. Swisspeers however expects to cut transaction times, improved security for investors and an easier handling through the introduction of the blockchain.