Loans

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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Genesis Clocks Quarterly Surge in Cash and Stablecoin Lending

Genesis Capital saw another jump in cash and stablecoin lending this quarter. The lending arm of the over-the-counter trading subsidiary of Digital Currency Group (DCG) published its latest “Digital Asset Lending Snapshot” on Wednesday, noting that the surge in cash lending was significant enough to shift the firm’s $450 million lending book. For the first time this year, …

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Crypto Lending Platform Nexo Lowers Rates On Instant Credit Lines

Nexo, a crypto lending institution, announced that it has lowered the interest rates on its instant crypto credit lines. Lowest rates in the blockchain ecosystem In a press release published Oct. 22, Nexo announced that it was lowering interest rates on its credit line service after securing long-term cost-efficient financing. The instant lending platform claims …

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Turkish Government Freezes Over 3 Million Bank Accounts

</header> <strong>Hundreds of thousands of businesses and individuals with tax obligations to the Turkish state have received foreclosure notices this week informing them about their frozen bank accounts. The government of Turkey, which is struggling with financial and economic problems under geopolitical pressure, is likely to push even more of its citizens towards cryptocurrencies with …

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Bitrue Exchange to Launch Crypto-Backed Loan Platform

Singapore-based exchange Bitrue is launching a low-interest crypto lending platform, the company said. The service, which goes live on Sept. 30, loans BTC, ETH XRP and USDT at a 0.04% daily interest rate. Users pledge existing Bitrue-held crypto assets as collateral against their $100-minimum loans. Bitrue will fund its novel “power piggy” crypto-holding rewards program …

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Payments Processor Stripe Launches Lending Service for Online Companies

Online payments processor Stripe announced the launch of its lending service Stripe Capital for the U.S. internet businesses. On Sept. 5, Stripe announced the launch in a blog post, noting that — once approved — access to funds is usually granted on the next day. The press release states: “Stripe Capital’s full integration with Stripe …

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How Celsius Turned Its Crypto ICO Into a Billion-Dollar Lending Business

The Takeaway: Crypto lending startup Celsius raised $50 million in a token sale in 2018. Lending volume has surged since then, with 10,415 Celsius users taking out fiat loans after locking in crypto collateral. BitGo confirmed to CoinDesk that it held $1 billion worth of crypto deposits from Celsius over the past year. CEL tokens …

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Nonprofit Launches Blockchain Platform for Credit History in Sierra Leone

San Francisco-based nonprofit Kiva, a company that crowdfunds loans for financial inclusion, has launched a blockchain platform for credit history with the government of Sierra Leone. According to a Reuters report on Aug. 21, Kiva and President of Sierra Leone Julius Maada Bio jointly launched the blockchain initiative in the country’s capital.  The platform will …

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As US Expands Subprime Mortgage Program, Is a New Crisis Looming?

</header> <strong>The Federal Housing Administration, a division of the U.S. Department of Housing and Urban Development, has recently adopted new guidelines widening the scope of condo purchases eligible for lower down payment loans insured by the government. While that could lead to more members of certain social groups buying a first home, critics fear a …

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Novogratz’s Crypto Bank Galaxy Digital Invests in Digital Asset Lender

Digital asset lender DrawBridge Lending (DBL) announced that it received funding from cryptocurrency commercial bank Galaxy Digital. A fiat-crypto lending and investing service DrawBridge announced in a press release published on Aug. 8 that it received funding from Galaxy Digital, further strengthen DBL’s fiat-crypto lending and investing capabilities.  Furthermore, the two firms reportedly plan to …

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