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Post by miskin on May 26, 2016 12:42:42 GMT
Hi,
I'd like to ask Martins when we will be able to invest in other currencies than EUR?
And second question: What currencies Mintos plans to introduce? Thanks.
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Post by martins on May 28, 2016 16:17:01 GMT
Hi! We expect to launch multi-currency option in a few months time. We will support the functional currencies in which loans are originated to avoid currency risk.
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Post by thep2pinvestor on May 28, 2016 18:12:52 GMT
Hi! We expect to launch multi-currency option in a few months time. We will support the functional currencies in which loans are originated to avoid currency risk. Thanks for the information Martins ! Can you please keep us informed also about the technicalities of different functional currencies ? I would assume that not all original loans are in EUR today ? Which means that there is already FOREX exposure and hedging (costs) already today ? Who is taking over the FOREX risk and the hedging costs ? Is it Mintos or the loan originators ?
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Post by martins on May 28, 2016 20:23:25 GMT
Today three loan originators are originating loans in other currency than EUR:
- Creamfinance in Georgia originates loans in Georgina lari
- ACEMA in the Czech Republic originated loans in Czech korunas
- Aforti in Poland originated loans in Polish zloty
The FOREX exposure is taken by the loan originators. The loan originators currently are not hedging the exposure since it is short term (Creamfinance) or small amount (ACEMA and Aforti).
Mintos is not involved in taking FOREX exposure nor in hedging.
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Post by thep2pinvestor on May 29, 2016 14:24:08 GMT
Glad to hear that Mintos is not taking FX exposure, nor hedging costs !
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Post by derwasser on May 31, 2016 3:40:35 GMT
Hi! We expect to launch multi-currency option in a few months time. We will support the functional currencies in which loans are originated to avoid currency risk. Does that include USD as well? That would be very interesting and certainly mean more investment from me.
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Post by extremis on May 31, 2016 15:27:54 GMT
Yes, indeed, that would be great. But if i understand correctly what Martins said, they will only include currency that loans are originated in, currently: Georgina lari, Czech korunas, and Polish zloty. Of course, i wouldn't mind either any loans in USD, GBP, or even CHF, but that would require loan originators that have business in countries that use those currencies, isn't it?
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Post by martins on May 31, 2016 18:27:10 GMT
Yes, you are right.
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Post by littleinvestor on Jun 24, 2016 9:13:25 GMT
Thank god martins decided well to wait 'few more months' to include other currencies and didn't include yet the Pound - just to stress that trying to make other currencies transparent is a very dangerous practice (and not needed). |
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