News Comments
- Today’s main news: KBRA assigns preliminary ratings to SoFi Consumer Loan Program 2019-1 Trust. LendingPoint increases mezzanine financing. UK publishes Open Banking operational guidelines. Raisin raises $114M.
- Today’s main analysis: International P2P lending volumes for January 2019.
- Today’s thought-provoking articles: Where are we in the credit cycle? Marketplace lending associations respond to FDIC small dollar lending rule request. 8 U.S. challenger banks traditional banks should be scared of. Due diligence on P2P platforms. Global regulators struggle to define fintech credit.
United States
- KBRA assigns preliminary ratings to SoFi Consumer Loan Program 2019-1 Trust. The lowest rating is a BBB, highest AAA. No surprises, really.
- Where we are in the credit cycle. Traditional banks are happy with where things are. Also includes a roundup of some big news in the alternative lending sector, including Acorns’ huge raise of $105 million.
- How the industry responds to the FDIC small dollar lending rule request. Both the Marketplace Lending Association and the Online Lenders Alliance issue statements. Included: The statement from the Online Lenders Association. A must-read.
- LendingPoint increases mezzanine financing to more than $67.5 million.
- 8 challenger banks traditional institutions should be afraid of. There are way more challenger banks than this, but these are the bigger ones. SoFi Money is one of the late comers, but with its financial strength, it should be a contender. Down below, don’t miss the interview with Joust, which is not on this list.
- Joust interview: The bank for freelancers.
- Chime tries to disrupt American banking.
- Challenger bank Rising Bank sets up in Midwest.
- P2P Global sells U.S. loans.
- Molo offers 15-minute mortgages.
- 25% say money is biggest hurdle in running a business.
- Plaid, Quovo scratch the surface of data aggregation.
- PeerLoanAdvisor intros loan ratings for P2P lending investors.
- Dharma Labs offers blockchain lending.
- CashCall class action will need to be refiled.
- LendingHome named to Forbes Fintech 50.
- PeerStreet integrates with Liquid Logics.
- Fluent appoints new chief financial officer.
- CoreLogic launches enhanced title, closing solution for lenders.
- Custody firm backing Betterment, Stash to launch crypto custody service.
United Kingdom
- Due diligence on P2P platforms. Are things going to get tougher for UK P2P lenders?
- Open Banking guidelines are offered.
- Starling Bank launches euro accounts.
- Aire raises $11 million.
- AccountScore offers real-time financial advice with Open Banking.
- Is SMEs declining external investments a barrier to scale?
- ANNA gets 8.5 million GBP in funding.
- Celsius has issued $630 million in crypto loans in six months.
- Aave launches Bitcoin lending on ETHLend.
- UK Bond Network closes doors.
European Union
- Raisin raises $114 million.
- ING offers Dutch SMBs funding options.
- NOVA disrupts P2P lending in Ireland.
- Banco BNI Europa, NDGIT accelerate Open Banking, PSD2.
International
- P2P lending volumes for January 2019. RateSetter crossed over 3,000 million GBP. Zopa crossed 4,000 million GBP.
- Regulators struggle to define fintech credit.
- Why venture capital is the answer to falling returns.
- Can technology stop the unbanked from falling through the cracks?
- Sancus to accept euros, dollars for loan funding.
- Revolut partners with WeWork.
Other
- China: CreditEase offers social lending to farmers.
- Australia: Wisr launches ad campaign toward disillusioned big bank customers.
- Malaysia: Youth urged to diversify P2P lending investments.
- Canada: Vancouver-based crypto trading platform with lending features launches.
- Africa: DexAge offers versatile crypto trading and includes lending.
News Summary
- United States
- KBRA Assigns Preliminary Ratings to SoFi Consumer Loan Program 2019-1 Trust (Business Wire), Rated: AAA
- Where Are We in the Credit Cycle? (PeerIQ), Rated: AAA
- The Industry Responds to FDIC Small Dollar Lending Rule Request (Lend Academy), Rated: AAA
- LendingPoint Again Upsizes Its Mezzanine Financing, Bringing It to More Than $ 67.5 Million (Business Wire), Rated: AAA
- Eight Challenger Banks Traditional Institutions Should Worry About (The Financial Brand), Rated: AAA
- P2P Global sells US loans and chases ‘less volatile returns’ (AltFi), Rated: A
- 15 Minute Mortgages? Meet Molo – The New Fintech Aiming To Shake Up The Market (Forbes), Rated: A
- Building a bank designed for freelancers and solopreneurs with Joust’s George Kurtyka (Tearsheet), Rated: A
- 1 IN 4 SAYS MONEY IS THE BIGGEST HURDLE TO RUNNING A BUSINESS (Valpak), Rated: A
- Plaid And Quovo Just Scratching The Surface With Data Aggregation (Forbes), Rated: A
- Meet the start-up bank with millions of customers trying to disrupt the ‘adversarial’ American banking system (Business Insider), Rated: A
- US challenger Rising Bank rises up in Midwest (Fintech Futures), Rated: A
- PeerLoanAdvisor.com Introduces Exclusive Loan Ratings for Peer to Peer Lending Investors (PRWeb), Rated: A
- California-based blockchain lender proves attractive to investors (CoinGeek), Rated: A
- Long-running CashCall class action headed to state court (Reuters), Rated: A
- LendingHome Named to Forbes Fintech 50 List for Second Consecutive Year (Business Wire), Rated: B
- PeerStreet Announces New Software Integration with Liquid Logics (PeerStreet), Rated: B
- Fluent, Inc. Appoints Alex Mandel as Chief Financial Officer (Globe Newswire), Rated: B
- CoreLogic Launches Enhanced Title and Closing Solution for Lenders (CoreLogic Email), Rated: B
- A fintech firm backing hot robo advisors like Betterment and Stash is planning to launch crypto custody services within the next few months (Business Insider), Rated: B
- United Kingdom
- Due diligence on P2P platforms (FT Adviser), Rated: AAA
- UK financial institutions will receive more clarity on Open Banking (Business Insider), Rated: AAA
- Starling launches euro account as UK prepares for Brexit (AltFi), Rated: A
- Alt Credit Scorer Aire Scoops Up $ 11 Million in Growth Funding (Finovate), Rated: A
- AccountScore uses Open Banking to offer real-time debt advice with Insolvency Panel (AltFi), Rated: A
- Why are SMEs declining external investment, and is it a barrier to scale? (Vox Markets), Rated: A
- SME finance app ANNA gets £8.5m funding (Fintech Futures), Rated: A
- What Winter? Crypto Lending Firm Has Issued over $ 630M in Just Six Months (NullTx), Rated: A
- Aave Launches Bitcoin on Its Ethereum-based Crypto Lending Marketplace ETHLend (PR Newswire), Rated: A
- Exclusive: P2P firm shuts platform (AltFi), Rated: B
- China
- From private bank client to farmer: a Chinese model of social lending (Euromoney), Rated: AAA
- European Union
- PayPal backed fintech Raisin raises $ 114m (Financial Times), Rated: AAA
- ING Bridges Dutch SMBs To Funding Options (PYMNTS), Rated: A
- The Irish fintech startups disrupting their industries (Irish Times), Rated: A
- Banco BNI Europa, NDGIT accelerate PSD2 and Open Banking in Europe (The Paypers), Rated: A
- International
- International P2P Lending Volumes January 2019 (P2P-Banking), Rated: AAA
- Global regulators are struggling to define fintech credit (Business Insider), Rated: AAA
- Why VC Is The Answer To Falling Returns (Forbes), Rated: A
- Technology has opened up access to banking but can it stop the unbanked from falling through the cracks? (Tearsheet), Rated: A
- Sancus to start accepting euros and dollars to fund loans (P2P Finance News), Rated: A
- Revolut team ups with WeWork (AltFi), Rated: B
- Australia
- Australia’s getting wiser says Wisr in new campaign targeting disillusioned big bank customers (Mumbrella), Rated: A
- APAC
- Diversify investments in P2P lending, youths urged (The Star), Rated: AAA
- Africa
- DexAge – A Versatile Crypto-Trading Solution (Blockmanity), Rated: AAA
- Canada
- Vancouver’s First P2P OTC Digital Trading Platform Officially Launched and Supported by Huobi Cloud Technology (Digital Journal), Rated: AAA
United States
KBRA Assigns Preliminary Ratings to SoFi Consumer Loan Program 2019-1 Trust (Business Wire), Rated: AAA
Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes issued by SoFi Consumer Loan Program 2019-1 (“SCLP 2019-1”). This is a $480.7 million consumer loan ABS transaction.
|
Preliminary Ratings Assigned: SoFi Consumer Loan Program 2019-1 |
||||||||
| Class | Preliminary Rating | Class Principal | ||||||
| A | AAA (sf) | $351,800,000 | ||||||
| B | AA+ (sf) | $39,400,000 | ||||||
| C | A+ (sf) | $51,500,000 | ||||||
| D | BBB (sf) | $38,000,000 | ||||||
Where Are We in the Credit Cycle? (PeerIQ), Rated: AAA
This week’s big funding news was that digital savings and investing platform Acorns raised $105 million in its Series E round, bringing its total valuation to $860 million.
The US economy generated 304 k jobs in January, marking a record 100 months of job growth. Average hourly earnings rose by 3.2% and the unemployment rate rose slightly to 4%.
Marlette CEO Jeff Meiler discussed profitability and loan performance with Peter Renton (transcript and podcast here). Marlette announced another year of profitability in 2018.
Overall, lenders view the US consumer as healthy and the US economic growth as solid.
The Industry Responds to FDIC Small Dollar Lending Rule Request (Lend Academy), Rated: AAA
So, back in November the FDIC issued a Request for Information on Small Dollar Lending. They received more than 60 responses from banks, industry associations, non-profit groups, fintech companies and individuals. While the FDIC did not define exactly what they meant by a small dollar loan the respondents, for the most part, took it to mean loans of less than $5,000.
There are many mainstream online lenders offering personal loans down to $1,000 and there are also many fintech companies offering loans under $1,000. Companies like Oportun, Insikt, LendUp, Elevate, Opploans and many others offer these sub-$1,000 loans using the latest technology tools to make this process more efficient.
The Marketplace Lending Association (MLA) provided a detailed 10-page response where they urged the FDIC (and other regulators) to do more to support banks and foster closer working relationships with fintech providers:
The Online Lenders Alliance is a trade group that contains many small dollar lenders who operate online. Not surprisingly they are against the 36% rate cap but they also have a lot in common with their sub-36% brethren such as promoting partnerships between banks and fintech companies.
The Center for Responsible Lending gave one of the most detailed responses to the RFI, a full 38 pages.
Read the full Online Lenders Alliance response here.
LendingPoint Again Upsizes Its Mezzanine Financing, Bringing It to More Than $ 67.5 Million (Business Wire), Rated: AAA
LendingPoint, the consumer lending platform, announced it closed an increase of its mezzanine financing, bringing the total of the facility to $67.5 million. A Paragon co-investor joined the facility as a lender.
Today’s announcement is the latest in a string of financing transactions LendingPoint has closed in the past 15 months. The company secured an up to $500 million Senior Credit Facility in August 2017 and an up to $600 million Senior Credit Facilityin May 2018, both arranged by Guggenheim Securities.
Eight Challenger Banks Traditional Institutions Should Worry About (The Financial Brand), Rated: AAA
1. BankMobile — Hooked Up With T-Mobile
Parent Company: Customers Bank
Website: www.bankmobile.com
Launched: 2015
Category: Mobile bank
The creation of father-daughter team of Jay and Luvleen Sidhu (CEO and President respectively), BankMobile is an evolving banking-as-a-service platform.
2. Chime — Super Slick App
Website: www.chimebank.com
Launched: 2013
Category: Mobile banking and money management app (in partnership with the The Bancorp Bank)
Notable Milestone: 2 million account relationships
3. Finn — Chase Bank’s Millennial Play
Parent Company: JPMorgan Chase
Website: www.chase.com/personal/finnbank
Launched: 2017
Category: Mobile bank
Chase is offering a $100 for opening a new Finn account (as long as you make ten qualifying transactions in the first 60 days).
4. Marcus — Sucking Up Your Customers
Parent Company: Goldman Sachs
Website: www.marcus.com
Launched: 2016
Category: Online bank
Notable Milestones: 2+ million customers and $35 billion in deposits.
Marcus’ loans range from $3,500 to $40,000 at rates of 6.99% to 25%. The average loan in 2018 was $15,000 over four years with a 12% interest rate, according to Bloomberg BusinessWeek. That leaves plenty of margin room even with its online savings rate up at 2.25% (as of January 2019).
5. N26 — Platform Maestro
Website: n26.com
Launched: 2015
Category: Mobile bank
Notable Milestones: 2.3 million users and $1 billion in deposits.
6. Revolut — The Amazon of Banking
Website:www.revolut.com:
Launched: 2015
Category: Mobile financial provider
Notable Milestones: 3 million customers — both consumers and businesses. Opening about 8,000 accounts per day. 1.2 million monthly active users. Monthly transaction volume $3 billion. Received European banking license in December 2018. More than 60,000 U.S. customers on Revolut’s waiting list.
7. SoFi Money — Join The ‘Waitlist’
Parent Company: Social Finance, Inc.
Website: www.sofi.com
Founded: 2011 (Sofi Money Beta Launch, June 2018)
Category: No-fee Mobile banking account
8. Varo Money — Almost OCC Approved
Website: www.varomoney.com
Founded: 2015
Category: Mobile banking/money management app in partnership with the The Bancorp Bank.
Notable Milestones: First mobile-only bank to get preliminary approval for a national bank charter.
Walsh feels Varo Money is particularly suitable for the 70% of the people they initially surveyed who are “hands-off creditworthy Millennials.”
P2P Global sells US loans and chases ‘less volatile returns’ (AltFi), Rated: A
It said its net asset value (NAV) rose by 0.78 per cent in the final month of the year, amounting to a total 5.2 per cent return in 2018, as the fund sold off a number of poorly performing loans, according to its December newsletter published today.
15 Minute Mortgages? Meet Molo – The New Fintech Aiming To Shake Up The Market (Forbes), Rated: A
Francesca Carlesi is the Co-Founder and CEO of Molo, a new, super exciting fintech start-up, aiming to reimagine how people get mortgages forever. She was originally a University professor, envisioning pursuing an academic career, before quickly joining McKinsey & Co., immediately after finishing her Ph.D. Molo is her first experience as a start-up entrepreneur after a long career in the finance and banking world. Here she discusses how she made the transition and found the journey so far.
Building a bank designed for freelancers and solopreneurs with Joust’s George Kurtyka (Tearsheet), Rated: A
57 million people in the US freelance and 30 million or so of those are micro and small businesses. Small businesses use approximately a dozen apps and pieces of software to manage their finances. From a bank account to payments to QuickBooks to factoring, microbusinesses spend 365 hours a year reconciling the data between all their financial tools.
1 IN 4 SAYS MONEY IS THE BIGGEST HURDLE TO RUNNING A BUSINESS (Valpak), Rated: A
Key Findings
- 1 in 4 Americans considers funding to be the biggest obstacle.
- More women say not knowing how to run a business is a challenge than men.
- Millennials ages 25 to 34 are the most afraid of failure.
- 1 in 3 Americans lacks a strong business idea to begin with.
Plaid And Quovo Just Scratching The Surface With Data Aggregation (Forbes), Rated: A
The fintech consolidation is starting, at least in the financial data side of the business, with Plaid recently announcing an
With fintechs getting access to customers data residing at different banks and investment firms, the tie-up between Plaid and Quovo is seen as the early signs of the next wave of fintech disruption. These startups will not only help fintechs aggregate data but analyze it as well. That’s according to David Jegen, a partner at F-Prime Capital, an early stage venture fund based in Boston that co-led the Series B round of fundraising for Quovo. He said the industry has rapidly shifted from a time when no one beyond financial advisors gave much thought to aggregating all of a customer’s’ financial data to it now becoming expected. Just ask a millennial who wants to easily access their data from their bank account on a mobile trading app.
Meet the start-up bank with millions of customers trying to disrupt the ‘adversarial’ American banking system (Business Insider), Rated: A
United Kingdom
Due diligence on P2P platforms (FT Adviser), Rated: AAA
In the immediate aftermath of the credit crunch, politicians enthused about the new crop of peer-to-peer providers and even created the Innovative Finance Isa.
UK financial institutions will receive more clarity on Open Banking (Business Insider), Rated: AAA
The Open Banking Implementation Entity (OBIE) has published its Operational Guidelines and accompanying checklist to help financial institutions (FIs) better navigate Open Banking, per a press release.
With the guidelines, the OBIE aims to clarify the regulatory requirements for a dedicated interface, as set out in the revised Payment Services Directive (PSD2), RTS, EBA Guidelines, and Financial Conduct Authority (FCA) Approach documents.
Read the full report here.
Starling launches euro account as UK prepares for Brexit (AltFi), Rated: A
The digital-only bank, which expects to top one million customers this year, said the new account is a simple was to ‘send and receive euros for free’.
Alt Credit Scorer Aire Scoops Up $ 11 Million in Growth Funding (Finovate), Rated: A
Alternative credit assessment innovator Aire has picked up $11 million in new funding. The London-based company, which demonstrated its Aire Credit API at FinovateEurope 2015, said the new capital will support the continued development of its credit insight engine, as well as support expansion in the U.S.
AccountScore uses Open Banking to offer real-time debt advice with Insolvency Panel (AltFi), Rated: A
A new service has been set up for people in debt, giving them the power to let advisors see their bank accounts in order to offer quick and accurate advice.
The service is a tie-up between fintech bank transactions firm AccountScore and The Insolvency Panel launched this month.
Why are SMEs declining external investment, and is it a barrier to scale? (Vox Markets), Rated: A
Small businesses accounted for 22 per cent of the UK’s economic growth in 2017 according to Octopus Investments High Growth Small Business Report. These SMEs, which comprise less than one per cent of UK companies, created one in five jobs in 2017 and hold a wealth of potential for our economy. When it comes to the future of the UK business landscape, it seems that the best things do come in smaller packages.
SME finance app ANNA gets £8.5m funding (Fintech Futures), Rated: A
SME business account Anna has received an investment of £8.5 million from Kinetik as it prepares to launch new tools and products.
What Winter? Crypto Lending Firm Has Issued over $ 630M in Just Six Months (NullTx), Rated: A
The cryptocurrency winter has been one of many contrasts. While some firms have gone out of business and shut down, some have thrived. Celsius Networks belongs to the latter.
Based in London, the firm launched just six months ago, but it has grown by leaps and bounds. It has lent over $630 million in loans, predominantly in cryptocurrencies.
Aave Launches Bitcoin on Its Ethereum-based Crypto Lending Marketplace ETHLend (PR Newswire), Rated: A
AAVE, a UK-based FinTech Startup, today announced a new release for its crypto lending marketplace ETHLend. The release introduces the capability for the ETHLend users to use their Bitcoin holdings as a collateral to borrow funds for spending.
Exclusive: P2P firm shuts platform (AltFi), Rated: B
The UK Bond Network, a p2p platform for corporate bonds, is closing as of today Monday 4 February 2019, according to the firm.
China
From private bank client to farmer: a Chinese model of social lending (Euromoney), Rated: AAA
Financial services group CreditEase runs an app through which its private banking clients can be connected to needy women farmers in China’s rural interior. It’s a remarkable initiative taken up by 200,000 farmers and shows what can be done with low-level credit. But how does the risk management work?
European Union
PayPal backed fintech Raisin raises $ 114m (Financial Times), Rated: AAA
German financial technology group Raisin has raised $114m in new funding from high-profile backers including Index Ventures and PayPal, in one of the largest fundraisings to date in Europe’s emerging “wealth tech” space.
ING Bridges Dutch SMBs To Funding Options (PYMNTS), Rated: A
Dutch bank ING is linking its small business (SMB) customers to alternative lending marketplace Funding Options, the firms said on Monday (Feb. 4).
The partnership means Funding Options has launched services in the Netherlands, expanding beyond the U.K. for the first time, said reports in Crowdfund Insider. Approximately 1.8 million SMBs in the Netherlands will gain access to Funding Options via ING Bank.
The Irish fintech startups disrupting their industries (Irish Times), Rated: A
Also based at NOVA is Initiative Ireland which aims to give cautious investors lower-risk access to the Irish property market. With poor interest rates, investors face the perennial problem of what to do with their money. Risk takers will always have options, cautious investors less so, and this is Initiative Ireland’s sweet spot. It is offering returns in the order of six to eight per cent to those investing in its novel peer-to-peer lending platform for developers building social and affordable housing.
Banco BNI Europa, NDGIT accelerate PSD2 and Open Banking in Europe (The Paypers), Rated: A
The European challenger bank in Portugal, Banco BNI Europa, has become a customer of NDGIT, provider of the API platform for banking and insurance in Europe.
BNI Europa implements “PSD2 Ready”, NDGIT’s smart standardized software solution following the Berlin Group RTS standard, to fulfil all PSD2 requirements. This cooperation is a milestone for the future development of Open Banking in Europe and for BNI Europa the next step in their company’s development.
International
International P2P Lending Volumes January 2019 (P2P-Banking), Rated: AAA
Milestones achieved this month (total volume since launch):
- MyTripleA crossed 50M EUR
- Peerberry crossed 50M EUR
- Ratesetter crossed 3000M GBP
- Swaper crossed 50M EUR
- Zopa crossed 4000M GBP
Global regulators are struggling to define fintech credit (Business Insider), Rated: AAA
While many jurisdictions have highlighted fintech credit as a key development in the nonbank financial space over the last year, they struggle to define exactly what fintech credit is, per findings of the Financial Stability Board’s (FSB’s) Global Monitoring Report on Non-Bank Financial Intermediation 2018.
Why VC Is The Answer To Falling Returns (Forbes), Rated: A
In uncertain times, VC offers the advantage that its performance is completely uncorrelated with public equity markets. Last year, both the US and Europe saw record VC investment, reaching over
Technology has opened up access to banking but can it stop the unbanked from falling through the cracks? (Tearsheet), Rated: A
Those of us who work in finance can’t imagine life without a bank account. But for the world’s 1.7 billion unbanked adults, this is a reality. In the U.S., 33.5 million households are either unbanked or underbanked and lack the ability, criteria, or financial literacy to access banking services. Without access to savings and credit, these people often live — and remain — in a cycle of poverty.
In the U.S., nearly 95 percent of adults have a mobile phone and 80 percent of those are smartphones. And since they’re not tied to traditional banking norms such as branches, ATMs, and credit cards, the unbanked are more likely to adopt digital banking via their phones.
TymeBank in South Africa uses AI to help people learn about their money and how to save. It teaches people about credit scores and rewards them for good financial behavior — TymeBank offers an amazing 10 percent interest rate on savings accounts for customers who can define specific financial goals they want to hit, and then contribute to them.
Sancus to start accepting euros and dollars to fund loans (P2P Finance News), Rated: A
SANCUS will start accepting euro-denominated loans within the next few months, to help it expand its investor base.
The alternative business finance provider is also planning to establish a new base in the Cayman Islands by the end of 2019, a move which would allow it to accept dollar-denominated investments as well.
Revolut team ups with WeWork (AltFi), Rated: B
The new partnership will provide Revolut for Business customers with 3 months free of hot-desk space at a WeWork co-working space.
Australia
Australia’s getting wiser says Wisr in new campaign targeting disillusioned big bank customers (Mumbrella), Rated: A
Peer to peer lending service provider Wisr has targeted disillusioned big bank customers in its new ad campaign.
APAC
Diversify investments in P2P lending, youths urged (The Star), Rated: AAA
Technology-driven peer-to-peer (P2P) lending is becoming a popular investment choice among young investors, but the anticipated slowdown in the economy this year also raises the risk of losing money.
To protect their investment, a P2P financing platform operator said that investors should spread their investment into as many deals as possible.
Africa
DexAge – A Versatile Crypto-Trading Solution (Blockmanity), Rated: AAA
The P2P Crypto loan services allow users to retain their assets in case they predict the concerned cryptocurrency value might appreciate in the future. DexAge enables users to stake their crypto assets as collateral and acquire a loan of the same value to expand their investment profile.
Canada
Vancouver’s First P2P OTC Digital Trading Platform Officially Launched and Supported by Huobi Cloud Technology (Digital Journal), Rated: AAA
iBank Digital Asset L.P. (“iBank Digital”, “iBankEx” or the “Company”) has officially launched Vancouver’s first peer-to-peer (P2P) OTC digital currency trading platform on iBankEx. (www.ibankex.io) This launch is supported by Huobi Cloud (“Huobi Cloud”) technology, which has officially entered the Canadian market in 2019 with 120 exchanges around the world.
iBank Products & Services:
Fiat Lending – A decentralized global lending network connecting financial institutions worldwide by offering crypto backed loan business.
Crypto Lending – iBank provides crypto loans collateralized by your crypto assets in BTC/USDT with security and confidentiality.
Authors:
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