Brazil's top crypto exchange Mercado Bitcoin launches cryptocurrency mortgage loans
One of Brazil's largest cryptocurrency exchanges, Mercado Bitcoin, announced the launch of a loan product that uses cryptocurrency as collateral and pays users in local currency. This is the company's first product of its kind and it obtained a payment institution license from the central bank last year. To avoid high risks related to clearing, Mercado Bitcoin will limit loans to 30% of the exchange users' holdings. The exchange holds over $900 million worth of cryptocurrency assets, meaning it has over $300 million in lending capacity. (Bitcoin.com)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Do Kwon’s extradition case goes back to Montenegrin justice minister
SEC seeks sanctions against Elon Musk over Twitter purchase
SEC greenlights listing and trading options for BlackRock's spot bitcoin ETF
The SEC approved spot bitcoin ETFs earlier this year, but had not yet approved listing and trading for options on those products.
Securitize adds Wormhole for multi-chain RWA tokens
Trending news
MoreCrypto prices
More
