Peer-to-peer business models don't need registration as a security.
SmartCredit.io is different. It’s not pooling client assets; it's pure peer-to-peer play. While our competitors will need to register as a security (and they will probably never get this registration), we are free from these requirements.
Peer-to-peer business model
A peer-to-peer business model does not pool assets. It creates direct relationships between the lenders’ fixed-income funds and borrowers’ credit lines.