|Lendit CEO Kim Sung-joon (Lendit)|
The new system, dubbed the “Lendit Market,” will start operation by the first quarter of 2019, Lendit said, but details have yet to materialize.
The adoption of what is equivalent to the US P2P financing platform Lending Club’s secondary market, FolioFN, will enable the higher liquidity of Lendit’s platform, the startup said in a release. Currently, investors in the Lendit platform cannot retrieve any of the principal of their investments or any interest earned until the notes from borrowers reach their maturity date.
By Son Ji-hyoung