For those of our readers who may not be familiar with Ieg Holdings Corp (OTCMKTS:IEGH), the company is engaged in the provision of online $5,000 and $10,000 unsecured consumer loans under the brand name, “Mr. Amazing Loans”, which logged $960,000 in new consumer loans via its www.mramazingloans.com website from October to December.
While loans are currently providing the company’s revenue stream, we are especially interested in IEG Holdings for its recent efforts to become involved with the extremely popular crypto space, integrating and updating its existing business to meet the challenge.
Ieg Holdings Corp (OTCMKTS:IEGH) is negotiating to purchase a gold project with gold metal in the ground and prospecting licenses. The company plans to utilize a gold resource to investigate creating, through Crypto, and a joint venture with Investment Evolution Corporation, also a wholly owned subsidiary of IEG Holdings, its own gold metal-backed crypto/blockchain currency, and potentially offer loans and accept loan repayments in its own crypto/blockchain currency.
Crypto has not begun material operations and is in the development planning stages to explore these crypto/blockchain opportunities in this time of changing technology. Prior to launching these plans, Crypto will investigate the legalities and economic risks and benefits of its plans. Any crypto currency offering will be registered with the Securities and Exchange Commission.
Paul Mathieson, IEG Holdings’ Chairman and Chief Executive Officer, said, “Unlike Bitcoin, Ripple, Ethereum and Litecoin etc., IEGH’s crypto currency is planned to be backed by gold metal and registered with the SEC as a security. We believe potentially combining the exciting new blockchain technology with the hard asset of gold metal, expected SEC registration, a leading sophisticated online consumer finance system and individual US state lending licenses is a very exciting proposition. In addition, we believe the future leaders of the crypto/blockchain sector will be companies that are materially compliant with all the existing and future related US government legislation. We aim for IEGH to leverage off its existing fintech business credentials, specifically its extensive experience in online consumer loans, to potentially be a key player in the crypto/blockchain sector.” (Source: Marketwired)
IEG Holdings also recently incorporated a 100% owned subsidiary company named Investment Evolution Crypto, LLC. The subsidiary company will explore the legalities and economic risks and benefits of entering into a joint venture with IEGH’s other 100% owned subsidiary company Investment Evolution Corporation dba Mr. Amazing Loans to accept repayment of customer loans in the form of leading Crypto/Blockchain currencies such as Bitcoin, provide the crypto equivalent of USD $5,000 and $10,000 loans to customers, and also potentially create and issue an Investment Evolution cryptocurrency. Investment Evolution Crypto has not begun operations and is in the development planning stages to explore these business opportunities in this time of changing technology. (Source: Marketwired)
We’ve reached a point where it seems inevitable that most, if not all companies will go forward into the future exploring ways to integrate the blockchain into their existing businesses, or even form few facets of business to rise to the occasion. IEGH is another one of those companies attempting to do so, and as such, we will be interested to track its activity ourselves on an ongoing basis. Keep it locked on Street Register for updates, and we’ll deliver important developments on IEGH as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in IEGH stock, short or long.