BitLeague, the top digital currency financial services platform, plans to offer USD loan services with Bitcoin as collateral.
BitLeague announced that it will offer industry leading bitcoin-backed loans to clients through DigitAmex LLC, its lending arm (US licensed).
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Cryptocurrency investors will be able to borrow from 3.99% APR without selling their bitcoin holdings on www.bitleague.com or via the BitLeague App. The loan rate will be adjusted based on term, loan to value ratio, etc.
Yifeng Mao, founder of BitLeague, said:
“This is a new milestone for our business. Our clients have enjoyed our zero-commission bitcoin trading service, and now, they can get loans from us at a very competitive rate without selling their bitcoin investment. We see a substantial demand from clients for this essential product. Having received our Lending License from California, this bitcoin-backed loan service will be rolled out from this market and we hope to cover the entire US in the short to medium term.”
Bitcoin has emerged a good store of value and many big organizations are putting their extra cash into it. This trend has also made.
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