SMU alumnus Zhu Juntao and his co-founder officially launched Hodlnaut, a crypto borrowing and lending platform, which lets customers deposit their cryptocurrencies and earn up to 10 per cent interest rate, in 2019. To date, Hodlnaut has over 5,000 users trusting them to manage over US$300 million in cryptocurrencies. This is 100 times more than what they were managing a year ago, and an even higher amount compared to what they launched with. The company is currently awaiting the licensing outcome from the Monetary Authority of Singapore.