According to Foresight News, Warbler Labs, the company behind decentralized lending protocol Goldfinch, has reached an agreement with Ugandan lending institution Tugende on a loan restructuring plan. This plan could potentially recover a $5 million loan for an East African motorcycle taxi financing project.
Previously, Tugende had defaulted on the $5 million funds it received from the Goldfinch protocol in October 2021 for its Kenyan business. As of May this year, Tugende's monthly interest was $53,400, and it began defaulting from June.