Pencil Finance Completes $1M Onchain Student Loan Cycle for Southeast Asian Students

Pencil Finance has completed its first fully onchain student loan cycle, offering financing to thousands of students in Southeast Asia.

The platform deployed $1 million in capital as a lender that was repaid by borrowers to the bundle's funders with yield. The loans were designed for students underserved by traditional lenders, with 50% female borrowers and 93% stemming from lower-income households.

Pencil Finance claims this is the first-ever fully onchain lending cycle financing student loans transparently recorded on the blockchain network.