Genesis issues $6M NFT-backed loan to Meta4 Capital
Institutional investors are increasingly entering the NFT space, particularly interested in providing original lending solutions. Go to Source Powered by WPeMatico
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Crypto exchange Kraken’s new NFT marketplace to issue loans
Jesse Powell said the exchange will expand into a marketplace for nonfungible tokens and NFT-backed loans beginning in 2022. Go to Source Powered by WPeMatico
Crypto Lender Nexo Launches NFT Lending Desk, Loans up to 20% for Popular NFTs
On December 16, the blockchain-based lending platform Nexo announced the firm has launched a non-fungible token (NFT) lending desk. While the company offered crypto-backed loans using tokens like bitcoin and ethereum for instant funds, Nexo is offering instant liquidity to NFT holders that don’t want to sell their NFTs. Nexo to Offer Loans for Bored … Read more
Nexo partners with Three Arrows Capital to launch NFT lending & art financing service
Bored Ape Yacht Club and CryptoPunks NFTs are two of the options supported as collateral for crypto credit lines on the platform. Go to Source Powered by WPeMatico
Coinbase Lets Customers Borrow up to $1 Million Using Bitcoin as Collateral
The Nasdaq-listed crypto exchange Coinbase is now letting customers borrow cash up to $1 million using bitcoin as collateral. The company charges 8% APR but there is no credit check. The exchange said that the bitcoin used as collateral “remains safely held by Coinbase,” emphasizing, “It’s not lent out or used for any other purpose.” … Read more
Tether fires back against report it is using reserves for investments and making crypto-backed loans
“If those loans fail, even a small percentage of them, one Tether would become worth less than $1,” said Bloomberg reporter Zeke Faux. Go to Source Powered by WPeMatico
Silvergate Bank issues $100M credit line to mining firm Marathon Digital
“We remain optimistic that we are well positioned to scale our hash rate to 13.3 EH/s by the middle of 2022,” said Marathon Digital CEO Fred Thiel. Go to Source Powered by WPeMatico
Biggest Bank in El Salvador Now Accepts Bitcoin as Payment for Financial Products
Bancoagricola, the biggest bank in El Salvador, is now accepting bitcoin to pay for debts originated from the use of its instruments, according to a PR statement. The institution partnered with Flexa, a payments network, to include cryptocurrency capabilities in its software. Bancoagricola also allows merchants using Wompi services (a digital payment processor) to receive … Read more
Homeowners Offered Crypto-Backed Loans to Finance Home Improvement Projects
As buying a home is by itself a serious investment, homeowners often lack the cash to fund further improvements to their property. While traditional bank loans are not as easily available, a new partnership now offers crypto holders to use their digital assets as collateral and instantly borrow money for a kitchen remodeling or some … Read more
Venezuela’s Maduro Wants to Offer Crypto-Based Loans to Agricultural Producers
Nicolas Maduro, president of Venezuela, stated the country could offer cryptocurrency-based loans to the agricultural sector, in addition to the traditional loans in several fiat currencies. He also stated that Venezuela has worked with petro and other cryptocurrencies for three years, pioneering the use of this kind of asset in Latam. Government Hints at Offering … Read more
