Cred provides USD loans, collateralized by XRP

As per the press release Cred, one of the crypto-backed lending firms would offer USD loans by using XRP as collateral. So all the XRP holders are served with the opportunity to save their XRP long term without the need to sell or incur tax consequences. The announcement also says that all the XRP holders of several countries could borrow as low as single-digit interest rates when they visit www.mycred.io and click “Get Early Access.”

Read more at BusinessWire

Empowering Farmers with Crypto-based loans

Block Commodities, an Agri-tech firm from Africa has launched a pilot project Farmer 3.0  based on crypto loans to empower farmers by providing a transparent and trustworthy ecosystem.

The project started in Uganda with around 1000 farmers, were provided with crypto loans to purchase seeds, agricultural tools, and fertilizers. Innovative technology with intelligent data is helping farmers manage resources and conditions[such as soil fertility, weather conditions] better for production.

Read more at blockcommodities.

 

Bloqboard- New Kid in the Crypto lending Space

Bloqboard Co-founded by Alex Bazhanau and Bahachuk, allows users to share their cryptos. The firm is offering a lending platform enabling peer-to-peer cryptocurrency lending via smart contracts. The firm lets you share your ERC20 tokens with your buddies, and, in theory, they have to pay you back. The firm recently raised $1.2 million from POlychain Capital to launch a lending system powered by decentralized lending protocols.

Read more at techcrunch

Ledn, First in Canada to Offer Crypto-backed loans.

Ledn created by Mauricio Di Bartolomeo will offer credit to businesses and consumers in Canada where about 5% of people use Bitcoin. The platform has four easy steps to avail the loan. The customer will send the application via Ledn and BTC as collateral. On successful verification , the customer is eligible for the loan and the firm sends the to customers in fiat.

The borrower needs to make monthly payments of interest on the loan until they are through. After that, they can pay the principal and Ledn will give them back their BTC. Ledn is funding these loans based on money it got from several funding rounds. The plan is to raise $50 million according to the founder.

Read more at bitcoinexchangeguide

Vimba backed up by New Zealand government; founders believe Bitcoin Will Be Worth $600,000

Callaghan Innovation a government innovation arm in New Zealand supporting Vimba, formerly known as Mycryptosaver is focussing on crypto savings services that allow users to put their money into Bitcoin in small weekly amounts. As per the statement released by CEO Sam Blackmore, the government savings would be utilized to build crypto wallets and to expand the digital currency offering on the platform. The founder also believes that Bitcoin will ultimately be worth $600,000, however, discourages day trading and swing trading 

Read more here at newsbtc.com

Nexo adds support for Bitcoin Cash

Nexo, the crypto lending firm from Switzerland has announced adding support for bitcoin cash [BCH] as a plan to expand their service offerings. Quite recently the firm added Ripple’s XRP and now support Litecoin and bitcoin cash. The coins BTC, ETH, BNB, and NEXO, would grant cryptocurrency holders the ability to borrow anywhere from $1,000 – $2 million. In case the user requires access to capital, rather than selling their Bitcoin Cash, individuals can lock Bitcoin Cash in the NExo Platform, before retrieving their coins once their loans have been repaid.

All the BCH holders will be able to stake their cryptocurrency as collateral and obtain instant funding in more than 40 fiat currencies.

 

Read more at bitcoinschannel

dYdX raised $10 Million to help you short Ethereum

A crypto startup dYdX raised $10 million from investors to design and develop a sowaftre that assist individuals to borrow money from each other without a broker. The firm has developed a margin trading protocol that is based on the computing network Ethereum. The prime motive is to provide a platform to individuals to create new cryptocurrency-related financial products, like interest-generating loans, short sells, or leveraged long positions.

The team is set to launch more assets that includes a long leveraged Ethereum token, that is designed to amplify the gains/losses of traders trading on margin. The team is also planning to add newer assets in future depending on their liquidity such as native coin of 0x or the ZRX token.

Read more at fortune

BlockFi Support Litecoin, GUSD For Crypto-backed Loans

BlockFi co-Founder Zac Prince said in a statement – We have added GUSD and LTC to be used as collateral for crypto-backed loans. This is the company’s first expansion of accepted collateral into top-10 cryptocurrencies. As per the press release – The newly added GUSD option will empower BlockFi to offer loans at any time, and not only during US bank hours. As BlockFi vice president of operations and co-founder, Flori Marquez said – Many parts of the world yet do not have easy access to low-cost credit. With BlockFi support to GUSD, we are looking forward to providing stability to citizens of regions with less stable currencies.

Read more at benzinga.

 

SALT adds LITECOIN[LTC] as collateral for the Loans

One of the crypto lending platforms from US SALT has added Litecoin [LTC] as the collateral for the loans. SALT or  Secured Automated Lending Technology is a platform offering a blockchain-based loan. In a Twitter update, the firm announced the acceptance of  LTC as collateral for the loans. The firm would also be adding some new features like removing the maximum cap on loan amounts and updating loan solutions for emerging markets.

The platform is offering loans in USD at an interest rate of 5.99% for loans up to $75,000. Loans up to $25 million feature an interest rate of 11.99%. The firm also has a token that was first traded in July 2017. Its user base is also 70,000 worldwide.

Check out their announcement on Twitter.

Read more at bitcoinexchangeguide

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