BitoPro, Taiwan’s largest crypto exchange will launch BitoDebt, the very first regulatory-compliant debt purchase platform on November 26th, 2019. However, the platform will allow only Level 2 BitoPro users to manage their own wealth. Users will also get a “Repurchase Agreement” to make sure it is legal.
Titan Cheng said that this platform helps to attract risky people into the market, mainly because the platform provides a buyback clause. If the debtor cannot return it in full, the debt purchase platform will buy back the debt to protect the user’s rights. BitoPro CEO confirms that BitoDebt is a professional legal credit subscription platform.