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Huobi Tech Launches Crypto Lending Services in Hong Kong

Huobi Tech Launches Crypto Lending Services in Hong Kong

Huobi Tech Launches Crypto Lending Services in Hong Kong

Huobi Tech is offering loans up to $100 million in crypto.

Huobi Tech is offering loans up to $100 million in crypto.

Huobi Tech is offering loans up to $100 million in crypto.

By Eliza Gkritsi
AccessTimeIconNov 30, 2021, 12:00 PM
Updated May 11, 2023, 7:05 PM
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Huobi Tech is introducing crypto lending for institutional investors in Hong Kong, according to a company press release shared with CoinDesk.

  • The loans will range from $10,000 to $100 million in USDT and other currencies, and will carry an 8.8% fixed-term annual percentage rate, a company representative told CoinDesk via email.
  • The Hong Kong-listed company is affiliated with crypto exchange Huobi Global through a common co-founder, Leon Li, but is a separate legal entity.
  • The loans will be provided through Huobi Brokerage, Huobi Tech’s digital asset brokerage platform. Customers can use crypto as collateral, and the loan terms will range from three months to two years, the company said.
  • Exchanges licensed by Hong Kong’s Securities and Futures Commission can provide services only to professional investors, meaning those with over HK$8 million ($1 million) in their portfolio.

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Eliza Gkritsi

Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI.

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