Fernhill Corp (OTCMKTS:FERN) Stock Rallies After Corporate Update
Web3 Cloud Based Infrastructure focusing on providing APIs for NFT marketplace, digital asset trading, and data aggregation solutions, Fernhill Corp (OTCMKTS:FERN) provided corporate updates on May 11, 2023. The company announced the launch of another service as part of its broader branding initiative for the Fernhill subsidiary, MainBloq.
Trading Data
On Thursday, FERN stock soared 9.09% to $0.0024 with more than 3.45 million shares, compared to volume of 1.89 million shares. The stock moved within a range of $0.0021 – 0.0025 after opening trade at $0.0022.
Fernhill’s MainBloq Announces New Digital Asset Lending Service and Provides Corporate Update
LendBloq, the name of the new offering, is part of the bigger strategy for rolling out a number of modular building Bloqs and plug and play, which be having the MainBloq ecosystem. LendBloq, the new Digital Asset Lending, provides family offices, trading firms, hedge funds, institutional investors, and miners looking to monetize their Digital Asset holdings without selling them. Interested people can get highly competitive non-recourse loans against digital assets such as ETH, BTC, BCH, etc.
MainBloq will be able to give customized solutions at competitive rates found in the digital asset lending industry today. It will keep the ticket size from $1,000,000 – $25,000,000+ with swift closings in 5 – 10 days. The company believes that there is a significant gap in the marketplace for serving small to large-sizedstakeholders wanting liquidity with a well-managed digital asset lending solution.
Chris Kern, Fernhills Chairman and CEO said that partnering with a leading firm in the alternative lending space is a brilliant fit with current service offerings.
Ryan Kuiken, MainBloqs Founder and President said that the addition of lending capabilities has come at a crucial time. Kuiken added that the firm is witnessing a renewed interest in this space.
