Copy link
Increase text size
Decrease text size
Link copied

Blockchain.com officially unveils crypto lending desk

Mon, 18 Nov 2019, 11:28 am UTC

Blockchain.com, a leading provider of bitcoin wallet and blockchain explorer, last week officially announced its own lending desk from Blockchain Markets.

The announcement follows after the company unveiled its own cryptocurrency exchange, called ‘The PIT,’ in July this year. With its lending desk, Blockchain is set to compete with firms like Genesis Global Trading and BlockFi.

According to the details in an online post, Blockchain launched the lending desk to a select group of clients in August. Since then, it said that its “lending operation has quickly grown, making Blockchain.com one of the top five lenders in crypto. Our institutional clients have lent, traded, or borrowed over $1.6B in cryptocurrencies.”

Breaking the figure down, The Block reported that Blockchain lent $10 million in new loans in August and is on track to lend out $120 million this month.

"We don't really have a size limit," Peter Smith, CEO of Blockchain.com, said. "That's probably unique and why other lending desks borrow from us."

Blockchain noted the concerns of institutional investors about the availability of reliable counterparties who can lend at large scale across any of the top 20 cryptocurrencies, USDt, and USD. Further underscoring the evolving needs of institutions, it emphasized the need for such partners that can not only lend at large scale but also customize agreements that prioritize risk over revenue.

“We’re able to offer clients bespoke borrowing agreements that take into account the unique aspects of crypto versus standard lending terms. The results from investing the time to forge deep, strategic partnerships with our clients have already been evident,” Blockchain said.

“The relationships we’ve established with clients are not only expanding liquidity for the crypto community and emerging networks, but doing so responsibly.”

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (btc) $48,714.00 (+5.99%)
  • Ethereum (eth) $1,546.10 (+8.28%)
  • Cardano (ada) $1.21 (-2.05%)
  • Binance Coin (bnb) $246.78 (+12.91%)
  • Tether (usdt) $0.998329 (-0.56%)
  • Bitcoin (btc) $48,714.00 (+5.99%)
Mar 2, 2021 (Tuesday)
06:37
Theta Network tweeted, "Theta Mainnet 3.0 is coming April 21st!"
06:33
Crypto Artwork NFT By Pak Sold For 111 ETH
06:28
MoneyGram Faces Lawsuit Over Alleged False Statements Regarding XRP
06:27
Origin Protocol Is Expect To Process Fund Withdrawal On March 3
06:17
Integrated Ventures Completes Purchase Of 600 Avalon Miners Manufactured By Canaan
06:15
NFTX To Enable NFT Swap
06:05
24H Trading Volume Of Uniswap Tokens Marks $831 Mln
06:05
24H Trading Volume Of Uniswap Tokens Marks $831 Mln
06:02
Effective Hashrate Of Filecoin's Entire Network Marks 2.889 EiB
04:23
BTC Contracts See Shorts Accounting For 51.67% In The Past 4 Hours
03:58
BadgerDAO Integrates With RenVM
03:54
FTX users now are able to deposit USD via a PayPal account.
03:52
Wing Finance Introduces PolkaPet — Wing
03:25
BM: IBC Tech Completed Mostly
03:22
CoinNess Market Surveillance Mar. 2: BTC Rises To $49000 Level
03:14
Hurun Global Rich List: Coinbase CEO Pulls Ahead Of Other Blockchain Practitioner
02:51
Polkastarter announces that DFG now becomes one of members of the Polkastarter governance committee.
02:50
DOGE Is Now Supported At 1800 ATMs In 45 US States
02:30
Crypto Market Sentiment On Mar 02: Market In "Extreme Greed"
02:16
Curve Finance Launches V2 of Pool Factory
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft