Bitcoin
$42,368.26-5.06%
Ethereum
$2,905.78-7.51%
XRP
$0.932630-6.93%
Cardano
$2.25-0.50%
Polkadot
$30.49-7.03%
Stellar
$0.278971-7.01%
Dogecoin
$0.208063-6.99%
Chainlink
$22.74-9.50%
Uniswap
$19.76-8.86%
Polygon
$1.13-8.18%
Cosmos
$39.83-6.77%
Algorand
$1.80-12.12%
Litecoin
$149.19-8.70%
Bitcoin Cash
$508.26-7.63%
Wrapped Bitcoin
$42,406.94-5.35%
The Graph
$0.707550-4.19%
Filecoin
$63.35-14.93%
Tron
$0.092292-6.70%
Ethereum Classic
$46.86-8.00%
Tezos
$6.92+7.45%
Aave
$280.15-9.13%
Monero
$232.69-6.57%
NEO
$39.27-10.74%
EOS
$4.00-8.25%
IOTA
$1.26-8.96%
BitTorrent
$0.003273-6.82%
Waves
$26.07+4.50%
Bitcoin SV
$135.75-7.15%
Maker
$2,285.71-10.38%
Dash
$164.71-10.25%
Decred
$114.10-5.57%
Decentraland
$0.695887-6.38%
ICON
$1.57-7.09%
NEM
$0.148001-8.60%
OmiseGO
$9.08-6.88%
Zcash
$109.54-10.97%
Paxos Standard
$0.999376-0.96%
NuCypher
$0.271398-9.50%
Yearn Finance
$28,443.21-9.58%
Qtum
$9.85-9.05%
Bitcoin Gold
$52.98-5.87%
Ren
$0.986263+13.79%
Basic Attention Token
$0.644125-8.51%
0x
$0.907155-8.24%
Fetch.ai
$0.780950-6.29%
Kava.io
$5.91+1.86%
Bancor
$3.42-7.64%
Band Protocol
$7.37-7.95%
Siacoin
$0.014829-9.91%
Nano
$4.68-9.47%
Loopring
$0.380043-8.57%
Civic
$0.469114-7.61%
Storj
$1.08-8.15%
Numeraire
$41.51-4.07%
Lisk
$2.81-9.59%
Orchid
$0.320198-8.50%
PAX Gold
$1,756.46-0.07%
Enzyme
$134.33-8.58%
Augur
$20.18-9.92%
Aragon
$4.70-9.86%
district0x
$0.146801-10.39%
Kyber Network
$1.44-8.94%
SingularDTV
$0.001307-4.96%
Tether
$1.00+0.01%
USD Coin
$1.00-0.00%
Dai
$1.00+0.02%

Bitrue Exchange to Launch Crypto-Backed Loan Platform

The service, which goes live on Sept. 30, loans BTC, ETH XRP and USDT at a 0.04% daily interest rate.

Sep 24, 2019 at 7:15 p.m. UTC
Updated Sep 13, 2021 at 11:29 a.m. UTC

Singapore-based exchange Bitrue is launching a low-interest crypto lending platform, the company said.

The service, which goes live on Sept. 30, loans BTC, ETH, XRP and USDT at a 0.04 percent daily interest rate. Users pledge existing Bitrue-held crypto assets as collateral against their $100-minimum loans.

Bitrue will fund its novel “power piggy” crypto-holding rewards program with users’ loan interest payments.

The loan platform rollout is part of a larger shift for the XRP-focused exchange, CEO Curis Wang said in a statement, alluding to more financial instruments in the pipeline.

“Bitrue’s goal from the beginning was always to bridge the emerging crypto markets with the traditional financial services sector,” Wang said.

“It’s a perfect time for us to launch the first of our initiatives.”

The new product launch comes only three months after the company was sidetracked by hackers stealing more than $4 million in users’ crypto assets from the exchange. Company representatives said those funds were insured and users were made whole.

Image via CoinDesk archives

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...