Today Colendi has introduced the Colendi Card, a blockchain-based micro-credit and credit scoring initiative. Colendi, which was founded by Bulent Tekmen, to help users bridge the gap between credit scores and the existing financial system, had been introduced for the first time at Webrazzi Fintech 2017.
Colendi Card is offered as a card and allows users to develop credit points using all the features of the Colendi protocol. Each use of the card also contributes to the improvement of the score. In doing so, users are kept away from risks such as excessive limits, high-interest rates that they face with standard cards.
Colendi Card can be used in the rapidly growing Colendi ecosystem of businesses and anywhere in the world where MasterCard and Troy are accepted.
In his statement, Colendi CEO and co-founder Bülent Tekmen said:
Colendi Card can play an important role in the financial footprint of low-income individuals who are not included in the banking system. This card will help people with a barrier to the traditional banking system to lift the bar and interact with the financial system. Traditional financial institutions do not want to give credits to people who do not have a specific track record, and with the Colendi Card, everybody has the opportunity to develop their own Colendi Score in a blockchain-based, safe environment.
Colendi’s mission is to bring simple financing solutions to people everywhere in the world. Using a transparent system built on Blockchain, Colendi will be accessible via smartphones. The Colendi App will ultimately be linked to the Colendi Card, which allows users to manage their accounts over multiple wallets using either fiat or crypto currencies.
The Colendi Card will be sold on Colendi’s website.