RATE Group | The Ultimate Growth Driver for Crypto-Lending
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The Ultimate Growth Driver for Crypto-Lending

29 Dec The Ultimate Growth Driver for Crypto-Lending

Posted at 16:37h in Cryptocurrency News by

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We live in the days of next-generation digital money emergence. Ultimately, the world lacks a clean balance sheet and an asset that has significant appreciation potential to create more loans against it. ​Euro-backed stablecoins can help boost the crypto-lending sector by providing new ways to put both digital assets and fiat to work.

Crypto lending works similarly to traditional lending services, the core difference being that loans are issued on decentralized platforms that lock up cryptocurrencies via smart contracts deployed on public blockchains.

And while the up-and-coming decentralized finance sector has grown, with $452 million in funds locked up in smart contracts — a 200% year-on-year increase — the industry has the potential to reach higher adoption levels.

The remaining point of friction? Most crypto lending options incur high losses when exchanging between crypto and fiat currencies.

The rising opportunity

A euro-backed stablecoin can provide much more value for a…

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