FintruX Network – the Blockchain Based Global P2P Lending Ecosystem: Interview with the CEO Nelson Lin

FintruX Network helps businesses secure quick and easy loans for a smooth cash flow, a global P2P lending ecosystem powered by Blockchain and no-code development. The CEO Nelson Lin will be telling us more about FintruX in this interview.

1) Please tell us your name and about yourself?

A: My name is Nelson Lin; I have over three decades of experience delivering financing solutions in the financial sector. I have pioneered several innovative applications; for instance, the first online credit adjudication software in 1994 for the asset-based finance and leasing industry in Canada and many versions after that, the end-to-end securitization software in 2003 for reputable banks and insurance companies that currently managing billions of dollars of assets. I have also developed a patented technology in 2005 that forms the core of Rintagi – the low-code self-generating web application development platform. Rintagi resembles a level 1 seed A.I. platform that takes input from programmers to regenerate itself and becomes smarter day by day.

Over the last few years, I have been conceptualizing the vision of an online lending platform that utilizes no-code generation, the power of blockchain, and credit enhancements to streamline, secure and lower the risk for lenders so underserved SMEs can get funding. This vision has given birth to FintruX Network.

2) What is FintruX Network?

A: FintruX Network is a blockchain based ecosystem that connects not just borrower and lenders, but also as many third-party service agencies as we can find. We facilitate marketplace lending to provide unsecured loans to small & medium businesses (SMEs) and startups.

By applying cascading levels of credit enhancements practiced by securitization for decades, the risk for our lenders can be reduced so they are capable of offering lower interest rates to borrowers on FintruX Network. Borrowers have the opportunity to select from a list of rated lenders matching their criteria, creating freedom of choice and trust amongst the parties.

Fully customized, simplified, and self-executing smart contracts can be created on the blockchain such as Ethereum via our no-code generation technology. The transparency and immutability greatly reduces arbitration costs and enhances trust. The automation of the entire lending process also significantly drives down the time and cost in getting a loan.

3) What are the major Issues facing Traditional Financing and how will FintruX solve these problems?

A: Cash has always been king. Small businesses and startups face cash-flow issues all the time. There are many unexpected events in running a business that demand short-term loans and they are needed in a hurry. Nevertheless, most SMEs and startups lack the credit history required to secure a traditional bank loan, or the amount requested is not large enough to be worth the while for a larger financial institution, not to mention the long time and bureaucratic process invested during the application.

Many SMEs resort to less savory means to obtain the necessary financing, such as loan sharks, where they face unreasonable interest charges and risk the unacceptable collection consequences of a default.

At FintruX Network, rated borrowers and lenders can find each other easily online. Accredited investors set up their lending criteria ahead of time on the blockchain so instant matching is possible for borrowers. We make unsecure loans highly secure by applying four (4) levels of credit enhancements. Streamlined processes and lowered cost & risk imply faster access to funding and lower interest rates.

In addition, borrowers know ahead of time which rated collection agencies will be contacting them in the case of a default.

Feel free to learn more about the difference we are making by watching this video.

4) Could you give us a little understanding of your Lending structure and procedures at FintruX, including repayments?

A: FintruX Network is a multi-sided ecosystem that delivers value not just to borrowers and lenders, but also to third-party guarantors and partner servicing agencies.

A typical lending process is preceded by lenders depositing fiat currencies into a trust institution in exchange of FRX tokens pegged at a fixed rate with the fiat currency. FRX is the exact equivalent of the fiat currency because it is created and destroyed upon deposit and withdrawal from a licensed trust institution. Subsequently the lender chooses a credit decision package provided by one of the rated agencies; which also includes selected fraud, identity, credit scoring agencies, scorecard and risk level.

Prospective borrowers get instantly matched to rated lenders. When the application is approved, and after due diligence, a fully customized and simplified smart contract is generated on the blockchain for the lender and borrower to sign. Funding and credit enhancements are immediate via FRX transfer. The bearers of FRX can exchange token for fiat currency from the trust institution at their discretion and convenience.

Periodically lenders receive principal and interest repayments from borrowers via ACH to trust institution or direct FRX tokens transfer. While on-time payment is rewarded, late fees can be incurred as a result of delinquency or default.

The four cascading levels of credit enhancements are applied as follows:

  1. Delinquent amount immediately covered by the 10% over-collateralization being held back;
  2. Cascading guarantors should cover any delinquent amount over 10%;
  3. Failing that, the aggregate of other 10% over-collateralization of the same risk class (cross-collateralization) should cover this overage delinquent amount;
  4. Failing all of the above and defaulted amount cannot be recovered within a year, the 5% FintruX reserve fund will cover the lenders for their loss;

Lenders may also provide self-serve options such as prepayment and refinance to borrowers.

5) What is the technology behind the FintruX Network?

A: We utilize our no-code development technology, which enables fully customized smart contracts to be generated and deployed in real time onto various blockchains, leveraging the benefits and strengths of concurrent distributed ledger technologies, without coding. The FintruX Network architecture is highly automated, scalable and has a robust combination of the latest advances in blockchain technology, decades of user experience, and the most efficient computation and data management in the appropriate layers of client, web-services, and server tiers.

We generate one unique program (Smart Contract) for each borrower contract to be deployed at real time on the blockchain via a configurable interface; so that each loan is an unique system on our ecosystem.

The user interface (UI) is implemented using ReactJS on a mobile-first user experience. The middle tier is JSON web services and Node.js which proven to be fast, lightweight and robust on all desktop, tablets and phones. The back-end of our application is composed of both traditional databases such as MSSQL and distributed ledgers which allows for secure handling and management of dynamic blockchain data.

6) What is the market size of the cryptocurrency lending market and the level of demand for Lending on Blockchain?

A: Trillions, in my opinion. What’s interesting to me is how blockchain technology is revolutionizing the financing industry; and how we can utilize this technology to enhance traditional financing.

We are facilitating fiat lending on the blockchain to enable faster, more efficient ways entrepreneurs can access affordable loans, and enable a new way for traditional lenders to utilize this new technology on an ecosystem.

Our aim is so that users of our platform get all the benefits of a blockchain-enabled application, while not needing to worry about the hassles of learning this technology.

7) Could you tell us about your FTX token and how it works?

A: The FTX Token is a utility token used to power the FintruX Network and works as a means to reward or get rewarded for participation in the marketplace. It also serves the purpose of acting as a transaction execution reward, provides platform access, and API license.

Everything within the FintruX Network is tokenized. Rewards and late charges to borrowers are paid in FTX token. As loans are issued and re-paid on the FintruX platform, a fee in FTX will be required to contribute to our revenue. Services provided by partner agencies in our ecosystem will also be paid in FTX.

Additional FTX use cases revolving around reputation management and additional credit enhancements will continuously be announced as the development of the platform progresses.

We also utilize another token, FRX, to be the equivalent of the local fiat currency and will be accepted by our partnered trust institutions for the ease of transfer. This token will be issued and implemented for the first time when we conduct our pilots in Q4.

8) Do you still have any available opportunities for investors and partnerships in the FintruX project?

A: We are intending to build a flourishing ecosystem, made more complete with partners who align with our vision to help small businesses grow globally. We are always on the lookout for both traditional finance and fintech companies to join us and offer their innovative solutions to better target this underserved market segment. Such companies would include ID/KYC/AML service agents, credit scoring companies, credit decision modeller, collection agents, and technology providers.

Additionally, as a marketplace lender, we are always looking for financial institutions and accredited investors to be lenders on our platform and enjoy a superior lending experience with risk-reduced investing.

For opportunities to collaborate, please contact our partnerships team at

9) What is next on the FintruX roadmap and what is your target within the next 3 years?

A: I’m excited for the future that FintruX Network represents, and am determined to accomplish what we have set out to do. We will be engaging in several pilot projects in Singapore and US in accordance with our beta testing objectives, and will be sharing good news about these initiatives later this year.

In the next three years, we want to expand our financial offerings through our partners and become a one stop financial solution provider for SMEs across the globe. We wish to help entrepreneurs take their business from small, medium, to large by connecting them with innovative solutions that meet every stage of their growth.

10) Could you tell us about your team and customer support?

A: We have a dynamic team that comprises of strategy, business, operation, marketing, sales, and technology. Our technology is supported by Robocoder Corporation, which has over 20 years of enterprise software development experience.

Our team is complimented with advisors and directors ranging from esteemed individuals who have held prominent positions such as chairman of ELFA in the United States of America, managing director of Dun and Bradstreet Asia, and director of TNG Asia to leaders at various telecom, banking, and technology companies.

Stellar customer support will be an important aspect of our operation. We’re actively engaging with the thousands of supporters on our social media channels and are building dedicated support staff teams to serve all aspects of our business. We want to ensure that all participants using our platform will have the best experience possible.

11) How Safe is FintruX Network, would you like to talk about your legal and security measures?

A: FintruX Network is built on the same secure platform used by the banking industry. In fact, our technology team has been servicing the securitization industry since 1999 and currently managing billions of dollars of assets for reputable banks and insurances companies.

Our legal team is of the opinion that we do not require a license to operate this ecosystem, in particular:

  1. FintruX does not make any decision for any lenders or borrowers;
  2. Lenders give detailed instructions how to manage their funds;
  3. All fiat currencies are handled by a licensed trust institution acting as escrow agent;
  4. Borrowers have the ultimate decision who to borrow their money from;
  5. FintruX charges a fixed usage fee on various transaction; in particular, there will be a fee for each service provided by service agents, a fee in processing the loan, a fee in maintaining the loan, and a fee in administering delinquency and default;
  6. FintruX does not lend to consumers; SME borrowers only;
  7. Lenders must be verified accredited investors as defined in their jurisdiction;
  8. Lenders and borrowers execute loan agreement directly with each other, FintruX is not a party of the agreement;

12) Do you have more information for our readers?

A: Our detailed whitepaper further explains our business model, and dives into the technology and strategies that will make our platform a success. This is available for reading on our website at and is subject to regular improvements as regulatory and business requirements may change.

We distribute important updates and exclusive information via our mailing lists, which you can become a part of by signing up at

Our content creation team shares updates from the team every week through our Tuesday Team Talk article series which can be found at

If you have any additional questions about our platform, or how you can get involved, please do not hesitate to reach out to us through

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