Lendingblock are a collateralized crypto-to-crypto lending platform and they have now launched a new institutional business that allows professional investors to borrow cryptocurrencies in quantities of USD 100,000 at a time.
Terms range between from 1 to 30 days and the loans will be issued in BTC, ETH, PAX and USDT on a fully collateralized basis.
The platform allows licensed lenders to compete for borrowers who want to use their cryptocurrency as collateral for loans, essentially bring the lending market in one place. While Lendingblock acts as settlement agent in the transaction reducing admin costs.
Rates will be set by the company based on supply and demand levels for the products and the demand side clients would include hedge funds, market makers, trading houses, OTC providers, crypto lending firms, and exchanges.
Steve Swain, CEO, Lendingblock, said “We see the Lendingblock exchange as a key piece of market infrastructure that will provide efficiencies and support healthy markets in the crypto economy. We look forward to bringing the first institutional lending exchange to market and believe it will play an essential role in facilitating clients’
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