A Silver Gate Bank, a pro-cryptocurrency bank with is held by Silvergate Capital Corporation has made public that it will grant loans on crypto collateral. The banks note revealed, “We believe there may be attractive opportunities to provide digital currency borrowing facilities to deepen our high quality customer relationships and further enhance our interest income.”
Dharma (a crypto lender based in USA) has declared that it has postponed new deposits and loans on its platform. In its tweet, “For now, we’re pausing new deposits and loans in Dharma. If you have an existing deposit or loan with Dharma, you’ll still be able to access your account and will have the option to withdraw any funds that are not currently locked up.”
INLOCK (a blockchain firm) has announced that it has launched a peer-to-peer (P2P) crypto lending platform to allow retail investors to utilize their crypto holdings. Csaba Csabai, founder and CEO, said: “We have seen far too many examples of people selling Bitcoins to finance their short or mid-term investment goals only to witness the price skyrocket in the following days – especially during 2017. Of course, nobody is able to predict the future, but the next best thing is to keep your options open.”
Realizing the increasing demand and adoption of cryptocurrency, Dharma (a Crypto Lending Company) has recently made its services of cryptocurrency lending to the public. The CEO of Dharma, Nadav Hollander commented, “There are a handful ways to earn interest on your crypto in a non-custodial manner, pretty much all of those require a high degree of technical knowledge.”
Creditors playing on the crypto arena say they’re finding strong demand from borrowers who don’t want to sell their digital assets at deflated prices, plus big investors eager to borrow coins for short selling. It’s putting lenders on win-win situation by helping believers pay their bills while awaiting a rebound, and also tapping people who are pessimistic on drop.
Helio Lending is the first independent crypto lending company to launch in Australia. The crypto holder will be able to use fiat funds without selling their digital assets, they also claim it boosts 50% more spending power than they hold it as a crypto asset. The blockchain is used to record transaction and settlement data removes risk and provides immutability for clients.