Shine Bunnag, (acting) President and Director of AQUA said that the first and only P2P lending platform in Thailand will be available by the fourth quarter of this year.
The platform and its blockchain technology are now being tested while talks are ongoing to bring Liberator Securities Plc on as legal administrator.

“This is a new type of borrowing that will replace familiar borrowing from commercial banks and financial institutions,” Shine said. “Nestify is the first such operator in Thailand to be granted a business license. We want Peer for All to help solve financial problems for Thai people in the long run.”

Shine is also CEO of Nation Group.

Kritsada Pruitipat, CEO and Director of NEWS, said he was very pleased with the AQUA collaboration.

NEWS is currently undergoing an organizational change to promote stability and long-term expansion.

“NEWS is now expanding its fintech business to offer investment services, including through securities brokerage firms and investment firms. Liberator Securities Plc, an indirect subsidiary of NEWS, is now in the final stages of meeting the regulatory requirements of the Securities and Exchange Commission (SEC) and related agencies to be able to become fully engaged in the securities business and the offering investment services to the public,” Krisada said.

Nestifly CEO and co-founder Paphon Mangkalathanakun said individuals and SMEs are underserved by mainstream banks. Thus, the P2P lending platform will be an alternative lending service provider with low-risk collateral.

“Using blockchain technology and smart contracts, the platform can effectively protect each transaction from fraud and non-payment. It will also fully protect personal data, which means users can be confident in our security,” said Paphon.