Post
Topic
Board Bitcoin Discussion
Re: Cryptocurrency Exchange In Japan Is Offering Bitcoin Loan
by
Asimmo
on 17/07/2018, 12:48:31 UTC
Japanese Cryptocurrency exchange Bitbank has made an announcement to commence BTC-USD, a Bitcoin borrowing program. The idea has been developed to engage more new customers along with enhancing additional foreign exchange.
https://www.owltmarket.com/cryptocurrency-exchange-in-japan-is-offering-bitcoin-loan/
Innovative idea, although it has some disadvantages.
First: exchange rates, as banks/exchanges should exchange fiat in crypto and issue loans afterwards.
Second: High volatility will result in high interest rates.
Third: Collateral - what will be requested as collateral? real estate? or crypto coins? This will have influence on interest rate as well.