Mar 11, 2020
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Blockchain.com Will Allow Retail Wallet Users to Borrow USD Stablecoins With Cryptocurrency

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Blockchain.com Will Offer Retail Wallet Users to Borrow USD Stablecoins With Cryptocurrency

The digital assets lending field seems to be heating up with Blockchain.com starting to offer lending directly to retail consumers globally. Borrowed USD stablecoins can be used by crypto traders to fund their next trades and thus increase the leverage of their holdings.

Also Read: Blockchain.com Launches High Speed Crypto Exchange for Retail Traders

Popular Wallet to Offer Crypto Lending for Global Retail Users

Blockchain.com, the provider of cryptocurrency services with over 46 million wallets created to date, has launched Borrow, a product offering retail users to borrow USD-pegged stablecoins against crypto assets held in their wallets. The new lending service is now available to users in more than 180 countries.

This launch follows the launch by Blockchain.com of an institutional lending desk in August 2019, which was handling $120 million a month by November. And the company said it will be offering retail users access to the same liquidity pool as institutional investors.

Blockchain.com Will Offer Retail Wallet Users to Borrow USD Stablecoins With Cryptocurrency

The company explained that as soon as the collateral is posted, users receive their loan and are free to use the stablecoins however they see fit. This means that retail traders can also use it to fund new trades without cashing out their previous investments and thus increase their leverage.

“Institutional and retail investors have the same financial goals – grow wealth and manage risks – but the tools at their disposal are vastly different,” commented Peter Smith, CEO of Blockchain.com. “Now, with our suite of trading products and Borrow, retail users can trade like the big guys without selling the crypto they’ve stockpiled or leaving their wallet.”

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