Loans are certain amounts of money given by an individual, organization or government to the another entity. The recipient is usually obliged to return the loan with additional interest. Loans are one of the driving forces of current economies and a crucial part of the financial sector. Loans can take various forms and may include loans in goods, fiat money loans, cryptocurrency loans, etc. The practice of crypto loans is new and has its flaws, mostly connected to the high volatility and technical difficulties inherent to cryptocurrency. However, Bitcoin (BTC) loans are already available in several BTC loan sites, some of which provide a rather quick Bitcoin loans procedure. Cryptocurrency loans may become the new standard for receiving loans — due to the high speed of transaction, the trusted distributed ledger and inclusion of information technologies.
Users can now trade assets while they are locked up as decentralized finance collateral.
DeFi project Aave unlocks collateral with version 2 release
Origin Protocol has announced its yield-generating stablecoin protocol, OUSD, has been hacked and drained of at least $7 million.
Yield-generating stablecoin project Origin Dollar exploited for $7M
Customers can now borrow money from crypto exchange Bitfinex.
Bitfinex to compete with DeFi with new borrowing service
Borrowers in the U.S. can now get funds with a DeFi-powered Visa card by Swipe.
Crypto finance firm Swipe launches Visa DeFi lending card
Crypto borrowing and lending platform Cred has joined Visa’s Fintech Fast Track program to further the adoption of DeFi loans.
Digital assets firm Cred eyes global expansion using Visa's network
Russian banks are not waiting for full regulatory clarity to issue crypto loans.
Waves Powers Russia’s First Reported Crypto-Backed Bank Loan
Aave is climbing the DeFi and market cap rankings as its flash loans see daily volume exceeding $100 million.
Aave Ascends Market Rankings as Flash Loans Explode