lending

Bitfinex Investor’s Crypto Lending Startup Posts $2.3M in 2019 Revenue

China-based RenrenBit, a peer-to-peer cryptocurrency lending and wallet startup, has disclosed it took $600,000 in net income from revenue of $2.3 million in 2019. The startup, founded by well-known Chinese over-the-counter trader Zhao Dong, who’s also an investor in Bitfinex and Binance, published an unaudited income statement on Monday as part of its commitment to …

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Silvergate Bank and Bitstamp Launch Bitcoin Collateralized Loans

</header> <strong>U.S.-based Silvergate Bank has launched a bitcoin collateralized loan product with Bitstamp as its launch partner. The crypto exchange will act as the bank’s agent to manage and provide custody for bitcoin collateral. The product utilizes Silvergate Bank’s Exchange Network to fund loans and process repayments in real time.</strong> Also read: Regulatory Roundup: EU-Wide …

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6 High Interest-Paying Options for Crypto Lenders

</header> <strong>As anyone who has ever sought to lend crypto will attest, significant variance exists in the APR offered to lenders. Indeed, the spectrum can swing from 1% to 8% – even when it’s the same asset being loaned across platforms such as Coinbase, Poloniex, Compound and Dharma. As a consequence, would-be lenders seeking passive …

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BlockFi Adds Litecoin, USDC to Its Lending Product Suite

Crypto lending startup BlockFi now supports litecoin and dollar-backed stablecoin USD Coin (USDC) on its platform, enabling users to earn interest on, trade and receive loans backed by the assets. The initial annual percentage yield on the assets will be 8.6 percent for USDC and 3.78 percent for litecoin.  In 2020, the company aims to …

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Crypto Lending Solutions: A Review of 3 Blockchain Lending Platforms

The proliferation of crypto lending platforms is the latest crypto solution bridging the gap with the traditional financial industry. These platforms offer institutional and retail investors the opportunity to access banking services previously only available in the traditional financial sector. A typical crypto lending platform enables long-term crypto holders to put their tokens to good …

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Pomp Joins Figure’s Board as Firm Completes $103M Funding Round

California-based fintech company Figure Technologies has completed its $103 million funding round led by cryptocurrency asset manager Morgan Creek Digital. In conjunction with closing the Series C round, the blockchain-focused firm announced that Morgan Creek co-founder Anthony Pompliano had joined Figure’s board, according to a press release on Dec. 5. The news comes three days …

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Blockchain.com Loan Desk On Track to Lend Over $120 Million In November

United Kingdom-based cryptocurrency data and wallet provider Blockchain.com is reportedly on track to lend out more than $120 million this month. On Nov. 14, the Block reported that Blockchain.com has been quietly building its loan desk to be competitive with firms like Genesis Global Trading and BlockFi. CEO of Blockchain.com, Peter Smith, said that his …

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Int’l Bank Regulator Is Studying Crypto Lending Capital Requirements

Global banking regulator the Basel Committee on Banking Supervision (BCBS) is working to establish how much capital lenders should hold to cover the risks generated by dealing with cryptocurrencies. Business Reporter published the news on Nov. 7 that the Basel Committee — which includes banking regulators from the United States, Europe and Japan — agreed …

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