June 19, 2024

Blockchain.com Launches Retail Lending Service

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 lending system only supports BTC, but in the future the company plans to expand the list of assets to include ether, bitcoin cash and stellar lumens.

AlongAccording 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.