Fun

Blockchain.com Will Allow Retail Wallet Users to Borrow USD Stablecoins With Cryptocurrency

News Feed - 2020-03-11 09:03:39

Blockchain.com Will Allow Retail Wallet Users to Borrow USD Stablecoins With Cryptocurrency


The digital assets lending field seems to be heating up with Blockchain.com starting to offer lending directly to retail consumers globally. Borrowed USD stablecoins can be used by crypto traders to fund their next trades and thus increase the leverage of their holdings.


Also Read:Blockchain.com Launches High Speed Crypto Exchange for Retail Traders Popular Wallet to Offer Crypto Lending for Global Retail Users


Blockchain.com, the provider of cryptocurrency services with over 46 million wallets created to date, has launched Borrow, a product offering retail users to borrow USD-pegged stablecoins against crypto assets held in their wallets. The new lending service is now available to users in more than 180 countries.


This launch follows the launch by Blockchain.com of an institutional lending desk in August 2019, which was handling $120 million a month by November. And the company said it will be offering retail users access to the same liquidity pool as institutional investors.



The company explained that as soon as the collateral is posted, users receive their loan and are free to use the stablecoins however they see fit. This means that retail traders can also use it to fund new trades without cashing out their previous investments and thus increase their leverage.


“Institutional and retail investors have the same financial goals – grow wealth and manage risks – but the tools at their disposal are vastly different,” commented Peter Smith, CEO of Blockchain.com. “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.” Digital Asset Lending Field Is Getting Crowded


On Thursday, March 5, custody service provider Bitgo announced that it is now offering institutional digital asset lending services after a few months of private beta. The lending service was said to be built by a Wall Street team that understands institutional investors’ needs.


“Our goal was to build a lending business that is similar to lending businesses in the traditional financial markets,” said Nick Carmi, Head of Financial Services, Bitgo. “We are not interested in a high-volume, low-margin business; we are building deep relationships with our clients to drive value for them and to create a long term, sustainable business.”



Babel Finance, a Chinese crypto lending company, also released its 2019 annual report on March 5. In its outlook on 2020 the report noted that “The lending market is increasingly crowded because of the horizontal development strategy adopted by various crypto finance players.” Still, the company’s outstanding loan balance broke a new record high this year, reaching $380 million on February 18, 2020.


What do you think about Blockchain.com offering USD borrowing to retail wallet users? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com. Share this story: Tags in this story Bitcoin Lending, BitGo, Blockchain.com, borrow, borrowing, crypto lending, lending, leverage Related SLP Token Fuels Scooter Rental Business in Taiwan, Investors to Get Their Dividends in BCH SERVICES | Lubomir Tassev


A company running a small scooter rental service in Taipei, Taiwan’s capital city, has minted an SLP token on the… read more. 5 Crypto Cashback Solutions That Award You Satoshis to Shop SERVICES | Kai Sedgwick


Cashback is a popular ecommerce system that administers rewards and rebates for shopping. Every time you shop online, and in… read more. Avi Mizrahi


Avi Mizrahi is an economist and entrepreneur who has been covering Bitcoin as a journalist since 2013. He has spoken about the promise of cryptocurrency and blockchain technology at numerous financial conferences around the world, from London to Hong-Kong. Please enable JavaScript to view the comments powered by Disqus.

News Feed

XRP Price Ready To Run To $11 ATH? Alternative Larger Metrics Show The Answer
Este artículo también está disponible en español. A crypto analyst has shared an XRP price chart, analyzing its action on the 4-hour timeframe while pinpointing key metri
FTT Breaks $1 Support for the First Time Since FTX Collapsed, Token Struggles With Dwindling Trade Volume
FTT Breaks $1 Support for the First Time Since FTX Collapsed, Token Struggles With Dwindling Trade Volume Despite FTX’s collapse last month, the trading platform’s crypto token
On-chain data — The missing link in Web3 advertising
Gareth Jenkinson10 hours agoOn-chain data — The missing link in Web3 advertisingWeb3 advertising platform Addressable is tapping into AppsFlyer’s mobile analytics to improve marketing for mobile applications.292 Tota
New Paypal Policy Lets Firm Fine Users $2,500 for Spreading ‘Misinformation,’ ToS Condemned and Called an ‘Abomination’
New Paypal Policy Lets Firm Fine Users $2,500 for Spreading ‘Misinformation,’ ToS Condemned and Called an ‘Abomination’ A new Paypal user policy that permits the company to
South Korean province implements digital system to track tax evaders’ crypto
David Attlee8 minutes agoSouth Korean province implements digital system to track tax evaders’ cryptoThe Gyeonggi Tax Department used the resident registration data of “delinquents,” tracing their mobile phone numb
Cointelegraph Research12 hours agoHow the spot Bitcoin ETF filings affected the crypto industry in June: ReportThe competition among zk-Rollup-based scaling solutions is tightening while the security tokens market contin
Memecoin casino: $100 bet on Pump.fun has worse odds than roulette
Robert D. Knight10 hours agoMemecoin casino: $100 bet on Pump.fun has worse odds than rouletteTraders are disillusioned with the ultra slim chances of picking a memecoin winner.1060 Total views11 Total sharesListen to ar
Gareth Jenkinson42 minutes agoNear taps Nym for metadata privacy, encryption servicesLayer-1 blockchain Near will integrate Nym Technologies’ data privacy and encryption services for users and DApps operating across it
Ethereum Struggles Below $3,659 Resistance: Is Momentum Fading?
Este artículo también está disponible en español. Ethereum is grappling with a critical resistance level at $3,659 as momentum appears to wane. After a period of steady g
Helen Partz13 hours agoBinance to terminate Russian ruble deposits next weekBinance Russia users will have slightly more than two months to withdraw their rubles from the exchange, or until Jan. 31, 2024.4520 Total views
Tom Mitchelhill6 hours agoToughen up. Mt. Gox’s ex-CEO only had a ‘little calculator’ to prepare for trialMark Karpelès was seemingly drawing parallels to Sam Bankman-Fried’s recent antics, claiming to have gott
Biggest Movers: STEPN GMT Remains Close to Record Highs, as GRT and CAKE Trade Higher
Biggest Movers: STEPN GMT Remains Close to Record Highs, as GRT and CAKE Trade Higher Following a short-lived move above $4.50 on Wednesday, GMT was once again higher, and traded u