Cash Loans Secured on Cryptocurrency…Dunamu and Bithumb Introduced Secured Loan Service

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The launch of cryptocurrency secured loan service is accelerating. The operators of major cryptocurrency exchanges introduced cryptocurrecny secured loan services. The user can borrow the currency they need by taking KRW or cryptocurrency as security.

According to cryptocurrency industry on the 9th, Bithumb Korea recently adopted the ‘Delio Lending’ service. The user can subscribe to the Delio lending service on Bithumb. Bithumb Korea collaborated with Delio, the company specialized in cryptocurrency secured loan. They offer KRW and BTC loans secured on BTC. They also provide the De-fi lending service except for the Delio lending service. De-fi lending service offers BTC and ETH loans secured on KRW.

Dunamu, the operator of Upbit, launched lending service. They have different approach from Bithumb Korea, which cooperated with the external company. DXM, the subsidiary of Dunamu, launched its own cryptocurrecny secured loan service. DXM offers stablecoin loan secured on cryptocurrency. Stablecoin is a kind of cryptocurrency that minimizes price volatility.

As the cryptocurrency market grows, cryptocurrency secured loan products are also increased. The range of security can be different by the service types. Because of the market growth makes the demand for various financial instruments. It is expected that more and more new companies will jump into the lending business at domestic and abroad.

Lee Young-ho(2020.02.09) 암호화폐 담보로 현금 대출…두나무·빗썸, 담보대출 서비스 도입
retrieved from https://www.etnews.com/20200207000234

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