Lendingblock has launched the first-ever institutional lending platform fully dedicated to cryptocurrency, according to a press release shared with Coin Rivet.
Lendingblock’s exchange provides a secure and liquid venue for lending and borrowing various crypto coins.
Institutional users will be able to borrow and lend popular digital assets such as Bitcoin, Ethereum, and USDT. This can be done on loan terms of 1, 7, 14, and 30 days, with a minimum trade size of $100,000.
Clients won’t have to hold their assets on Lendingblock’s exchange ahead of placing orders. Instead, Lendingblock manages the entire loan lifecycle throughout the term of the loan.
The firm ensures correct maintenance and sufficient collateral so that all loans are fully secured. Lendingblock also acts as a settlement agent throughout any transactions, with borrow and lend orders being matched automatically. Any rates are set automatically by supply and demand, providing a transparent view of current market rates at any given time.
Market analysis, accessible data, and price transparency
Lendingblock’s clients include a mix of trading houses, market makers, and crypto lending firms. As such, the new platform supports the broader needs of the market and all of its participants.
Borrowers and lenders can enter into fully collateralised crypto vs crypto lending agreements that benefit both parties. Lenders can earn incremental interest income and borrowers can use their own digital assets as collateral.
Key market infrastructure
With this new platform, Lendingblock is creating a wider support mechanism for the cryptocurrency industry. Steve Swain, CEO of Lendingblock, explains:
“We see the Lendingblock exchange as a key piece of market infrastructure that will provide efficiencies and support healthy markets in the crypto economy. We look forward to bringing the first institutional lending exchange to market and believe it will play an essential role in facilitating clients’ trading strategies and also in helping the crypto market infrastructure to mature.”
This support will also be embedded in Lendingblock’s approach to customer service, which will include a team that offers 24-hour support over the phone and through live chat. As the business and platform grows, it will expand its capabilities to meet further client demand.
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