One of the most notable providers in the cryptocurrency market announced that they’ve launched their latest product, which is branded as Borrow. Provided through Blockchain.com, it’ll enable for investors and traders to receive an influx of stablecoins under the USD-Denomination. These stablecoins are borrowed against the trader’s respective cryptocurrency assets, with Blockchain.com being the 1st to ever provide a service of this magnitude. It should be noted that their popularity jumped tenfold after releasing an institutional lend desk, with profits exceeding $120 million through November 2019.
The Chief Executive Officer & Co-Founder of Blockchain.com, Peter Smith, spoke to news outlets during their official announcement. He expressed: “Institutional and retail investors have the same financial goals, which is to grow wealth and manage risks – but the tools at their disposal are vastly different. With our suite of trading products through Borrow, retail users can trade like the big guys without selling the crypto they’ve stockpiled or leaving their Wallet.”
Borrow Details
Those requiring informative data regarding Borrow were given insight during the announcement. It’s known that consumers are now provided the capability to borrow USD-Digital Stablecoins by wagering it against their respective Bitcoins, with this service being available throughout 175+ countries worldwide. Once collateral is posted through their respective accounts, the loan will be dosed out to their Blockchain.com wallets. These loans must be paid back through convenient options, which include numerous cryptocurrencies operated within these 175+ countries.
When it applies to the Blockchain.com Wallet, it’s received expansive upgrades that enable for consumers to have increased control with their cryptocurrencies and how their engaged. This included new forms of payment, which extend to the Turkish Lira and British Pound. It even extends to additional APIs for traders using algorithmic strategies. Blockchain.com has also confirmed during their announcement that new asset offerings will be provided in the coming months.