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The government of El Salvador will offer cryptocurrency-based loans to small companies. Conamype, the National Commission for Micro and Small Enterprises, will be the link between the investors and a decentralized finance protocol called Acumen, that will be able to provide funding in stablecoins. The aim being to help small investors that have no credit … Read more
The Salvadoran government is looking to create a Bitcoin-backed loan product for micro and small businesses across the country. Go to Source Powered by WPeMatico
Institutional investors are increasingly entering the NFT space, particularly interested in providing original lending solutions. Go to Source Powered by WPeMatico
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
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
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
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
“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
“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
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
