RATE Group | Blockchain.com Unveils ‘Borrow’ Service | PYMNTS.com
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Blockchain.com Unveils ‘Borrow’ Service | PYMNTS.com

10 Mar Blockchain.com Unveils ‘Borrow’ Service | PYMNTS.com

Posted at 22:24h in Cryptocurrency News by

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To allow users to borrow against their holdings, digital currency wallet and exchange company Blockchain.com unveiled a “Borrow” Service. The offering will provide loans in stablecoins that are denominated in U.S. dollars against bitcoin holdings kept in the Blockchain Wallet, Coindesk reported.

Blockchain Co-Founder and CEO Peter Smith said per the report, “Institutional and retail investors have the same financial goals — grow wealth and manage risks — but the tools at their disposal are vastly different.”

Smith continued, “Now, with our suite of trading products and Borrow, retail users can trade like the big guys without selling the crypto they’ve stockpiled or leaving their Wallet.”

Loans are reportedly available right after collateral is made available, and they are acessible to wallet holders around the globe. The offering occurs following Blockchain’s opening of an institutional lending desk last summer.

Lending has…

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