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Cryptocurrencies

ETHLend adds new tokens for collateral borrowers

Friday 11 January 2019 | 01:49 PM CET

Decentralised lending application ETHLend has added four crypto tokens that can be posted as collateral by borrowers on the peer-to-peer lending platform.

At the end of 2018, users were asked to vote on new tokens, and the winners were Selfkey that backs a digital identity platform, bank settlement software token Paxos, ODEM that supports educational exchange, and ledger storage provider Quant.

As such, if one needs a vacation, a car or have to pay some bills, and one holds digital assets but do not want to sell them yet, ETHLend allows customers to take loans using tokens as collateral. This solution comes after the lender revealed it is in talks with peer-to-peer lending platforms in the UK about providing technology that will enable them to offer crypto-backed finance.

Moreover, the crypto P2P lender lets borrowers request loan amounts and post other digital currencies as collateral. It has already started providing its software for Cashare, a Swiss P2P platform.

More: Link
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