Luxury Collectibles Platform Altr Facilitates $200K USDT in Loans within 24 Hours of Debut

Altr’s landmark transaction involved an iconic Patek Philippe Nautilus reference 5811/1G, securing a notable $82,500.00 loan in USDt stablecoin (Tether) for its borrower. This milestone underscores the platform’s capability to seamlessly convert high-value physical assets into digital currency, enabling secure and transparent lending transactions.

Initially focusing on luxury collectibles like watches and cars, Altr is now broadening its horizon to include a wider range of valuable assets. The platform is actively exploring the addition of new categories such as Art and other valuable collectibles, aiming to help inject liquidity into markets traditionally seen as illiquid.

The Altr Lending Platform allows users to leverage the value of their high-end collectibles, starting with luxury watches and cars, by offering them as collateral for loans. These assets are verified by Altr's team of expert “Oracles” and stored in an insured specialized freeport vault in Switzerland, ensuring asset safety throughout the loan period.

While the item is stored, borrowers can publish loan requests, creating a transparent lending ecosystem where lenders can confidently participate. This peer-to-peer lending model not only provides flexibility and control to users over their borrowing needs but also offers attractive returns for lenders, establishing a competitive and efficient financing solution within the decentralized finance (DeFi) space through the use of real-world assets (RWAs).

Built on the Polygon protocol, known for its efficiency and scalability in the blockchain realm, Altr's platform benefits from the support of Polygon Labs and its co-founder, Sandeep Nailwal, who have been instrumental as early investors and advisors.

(Press release / SK)