Blockchain.com Launches Retail Lending Service

Blockchain.com Launches Retail Lending Service

Cryptocurrency wallet company Blockchain.com rolls out Borrow retail lending to all its 46 million users.

The new service allows users to get a loan in the form of USD Digital stablecoin, launched on the Paxos platform and, in fact, is a copy of PAX. Bitcoins stored on the borrower’s Blockchain.com wallet will act as collateral.

Blockchain.com Launches Retail Lending Service

So far, the lending system only supports BTC, but in the future the company plans to expand the list of assets to include ether, bitcoin cash and stellar lumens.

According to the executive vice president of Blockchain.com Xen Beinham-Herdy, against the background of the current state of the global markets, people are actively looking for ways to borrow funds against their existing savings outside the traditional financial system..

In August 2019, the company also launched an institutional grade credit bureau and reported significant growth in this business. At the same time, the project integrated the BitPay payment architecture into its wallet so that users could directly pay for goods and services in the partner network..

text: Ivan Malichenko, photo: Businessinsider

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