ECB plots Amazon-style market to prevent Wall Street COVID debt swoop

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REUTERS/Kai Pfaffenbach

ECB plots Amazon-style market to prevent Wall Street COVID debt swoop — something for Debitos GmbH?

Europe is working on an Amazon-style website to sell hundreds of billions of euros of bank loans which have been soured by the coronavirus crisis, in a bid to shore up the economy and challenge the dominance of big Wall Street debt investors.

The blueprint, devised by top European Central Bank (ECB) officials, is part of efforts by the 19-state euro zone to tackle a growing pile of unpaid loans and aims to prevent “distressed debt” funds from buying them at rock bottom prices.

The ECB scheme, which has yet to be signed off and will be discussed with European Union officials on Friday, is inspired by Italian website BlinkS, which links buyers and sellers of loans, as well as debt auctions by a U.S. federal agency.

According to https://finanz-szene.de/ , allegedly, the Frankfurt NPL fintech Debitos is also involved.

Debitos is a financial technology company and Europe´s leading secondary online marketplace for debt- and real estate sales.
Through its auction-based online transaction platform banks, corporates and funds can sell their debts (loans, claims & real estates) to specialized investors.

Check their website: https://www.debitos.com/

Complete story:

Exclusive: ECB plots Amazon-style market to prevent Wall Street COVID debt swoop

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24/09/20: Deutsche Bank, MM Warburg, Procheck24, Raisin, Tinkoff, Chime


ECB plots Amazon-style market to prevent Wall Street COVID debt swoop was originally published in FrankfurtValley on Medium, where people are continuing the conversation by highlighting and responding to this story.

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