Blockchain.com Launches Retail Lending Service

Blockchain.com, a cryptocurrency wallet development company, has deployed Borrow's retail lending system for all of its 46 million users.

New service allows users to receivecredit in the form of stable digital USD Digital, launched on the Paxos platform and, in fact, a copy of PAX. Bitcoins stored on the borrower's Blockchain.com wallet will act as collateral.

So far, the credit system only supports MTC, but in the future the company plans to expand the list of assets to include ether, bitcoin cache and stellar lumens.

By According to Blockchain's Executive Vice President.com Xen Beinham-Herdy, amid the current state of world markets, people are actively looking for ways to borrow funds for their existing savings outside the traditional financial system.

In August 2019, the company also launchedcredit bureau at the institutional level and reported significant growth in this business. At the same time, the project integrated the BitPay payment architecture into its wallet so that users could directly pay for goods and services in the network of partners.