Funding Societies engages Orangefield Trust for Escrow

SINGAPORE: Locally-based bullion retailer Silver Bullion launched the world's first bullion-backed peer-to-peer (P2P) loan platform on Wednesday (Aug 5). It is backed by the contents of its storage facility The Safe House, wherein lies about 80 tonnes of silver and a tonne of gold, altogether worth about S$120 million.
If a borrower holding investment grade gold or silver wants to make a loan of S$1,000, for example, he would have to put up bullion worth twice that amount as collateral, which in this case would be S$2,000. If the borrower fails to repay, the bullion will be sold and funds returned to the lender.