Repo coin

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Repo is a blockchain platform that aims to provide a network for the car lending and repossession industry.



The car lending and repossession industry is a network of businesses that primarily includes the acts of lending an automobile for relatively short periods of time (from hours to couple of weeks). However, it also includes the acts of taking a car back when the time comes according to the terms of a deal. The services of car retrieval are widely used to get the cars used as collateral for a loan from its registered owner. The industry of car repossession grows alongside the growing amount of both auto loans and delinquent loans. The Repo coin project aims to provide a platform that will make it easier and cheaper for companies to retrieve the loaned vehicles.

According to the Repo coin white paper, the number of auto loans was growing from 2011 to 2016 in very high rates. Additionally, somewhere around 20% of the consumers ended up with a subprime auto loan. In the estimation of the Repo coin team, this process established an auto repossession industry worthy of 1 billion dollars.

The current approach to the auto repossession is not meeting the expectations of the auto lenders. It is not highly effective and is too demanding in terms of price. The main problem of the approach is its complex and costly location process. However, the Repo coin team offers a solution – the establishment of a network of ordinary driven by cryptocurrency rewards.

The project does not seek to become a car retrieval platform but to become a service for cheap and easy location of the lost assets. The main idea of the project works in the following way:

  • Companies provide the platform users with an information about lost car’s model, license plate and appearance.
  • When a user locates a lost car, he/she uploads all the necessary information on the Repo coin mobile application. The application provides users with a map, license plate scan device and other useful tools.
  • The info is shared with car repossession companies.
  • When a car is retrieved, a user that found it is rewarded with Repo coins.

The application is entirely free to use and most financing of the platform will come from financing companies looking for lost assets. The company is founded by Fahim Aref, Sana Othman and Mohammad Majid. It is located in Sheridan, Wyoming and is registered under the name of Repo Blockchain LLC.


The Repo coin is issued via the Stellar network. The Stellar cryptocurrency was chosen due to its fast protocol and cheap transactions. Mining-based (Proof-of-Work) cryptocurrencies are not efficient enough for the Repo coin platform.

The whole system will be based around the Repo coin application and Stellar protocol-based Repo coin API. The total supply of Repo coin is 357 million tokens, half of which will be reserved to be given for active users and car locating participants. 20% of the total supply will be stored by the Repo coin project to use for operating expenses. 30% will be allocated by the founders of the project. The project performed several Repo coin airdrops.


Repo coin is not minable.


Repo coin is traded on the Stellar exchanges – Stellar Decentralized Exchange and Stellarport.


The project was launched in September 2017. The cryptocurrency of the platform is planned to be finished in the end on 2018. The mobile app release is aimed on the second quarter of 2018.

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