MyConstant

Founded in 2019, MyConstant operated as a global P2P lending platform aiming to bridge the gap between traditional finance and decentralized finance. The platform allowed users to earn high interest on their stablecoins or USD by lending to a pool, while others could borrow USD by using their cryptocurrency holdings as collateral. The company's mission was to make finance more efficient and accessible globally. However, in late 2022, the company halted all customer withdrawals, citing financial difficulties with its primary custody and lending partner, Prime Trust. Subsequently, in early 2023, the company officially ceased operations and began an "Assignment for the Benefit of Creditors" (ABC) process, an alternative to formal bankruptcy, to liquidate assets and repay creditors.