Credefi is a blockchain-based lending platform that provides crypto loans collateralized by real-world assets to SMEs in the European Union. Their risk scoring system is validated by Experian, and they require all borrowers to provide collateral. However, due to their involvement in lending and borrowing activities, Credefi is considered non-compliant with Shariah principles.
| Category | Details | Status |
|---|---|---|
| Legitimacy | Not regulated by any countries or regulatory bodies. The project has a clear roadmap and genuine product on the blockchain, while the token/coin has a fundamental underlying value that allows it to be categorized as "Mal". | Passed |
| Project | Credefi is an innovative lending platform that offers crypto lending backed by a range of real-world assets such as real estate and future receivables. Their mission is to bridge the gap in debt financing in the European Union by providing fair and accessible lending solutions to small and medium-sized enterprises (SMEs) in the region. Credefi leverages blockchain technology to achieve secure and stable returns for lenders. They require all borrowers on their platform to provide collateral and undergo a proprietary risk scoring system that is validated by Experian. | Failed |
| Financials | The token is not backed by any equity, thus there is no financial screening on this token. | Passed |
| Token | The CREDI token can be used to provide additional security and yield boost opportunities for loans on the platform, as well as to secure Collateral Protection Insurance. | Failed |
| Staking Method | The mechanism of Proof of Stake (PoS) method used by the protocol is not clear. However, lenders can benefit from stable and predictable returns by providing loans collateralized by real-world assets. | Failed |
Read the source document and verify project fundamentals.