Mintos plans to offer ETFs later this year
European lending marketplace Mintos is developing its own exchange traded funds (ETFs).
The project was put on hold after the Russian invasion of Ukraine threatened to affect some of the platform’s loans.
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However, Mintos now plans to offer ETFs and bonds later this year, and will not charge investors any fees. The ETFs will be bought through a partner bank, rather than a stock exchange.
“ETF Strategies on Mintos are our first step in the transition journey from a single-asset platform to a multi-asset platform with a unique mix of assets,” the company said in an update for Mintos affiliates.
“We want to enable investors to reduce risk and potentially improve returns by spreading their investments between alternative assets such as loans as well as tried-and-true asset classes such as ETFs and others.”
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Mintos first raised the idea of ETFs in September 2021, after it won its investment licence in Latvia. The company said it will offer regulated financial instruments known as notes through its platform rather than loans.
The leading platform has 519,086 registered users and there has been €9bn (£7.6bn) invested since 2015, with a current average interest rate of 12.4 per cent.
Beste said that Mintos currently does not plan to open up to UK investors.
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