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| July 23, 2018

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lending Archives -

Latest battle over California lending market: Should grocery stores offer large loans?

July 12, 2018 |

Walk into a Northgate supermarket and, along with produce and pan dulce, you can walk out with a small loan from the store’s Prospera financial services stand.

Those loans top out at $ 2,500. Now, a bill working its way through the state Legislature could boost that maximum to $ 7,500 — enough, the…


L.A. Times – Business

Bills headed for state Senate would put limits on payday, auto-title lending

June 20, 2018 |

State legislators killed a bill that would have reshaped much of California’s consumer lending market, but two more-modest bills made it through the state Assembly and now move on to the Senate.

One would stop borrowers from taking out more than one payday loan at a time; another would cap interest…


L.A. Times – Business

Crypto-to-Cash Lending is Growing Quite Popular These Days

May 4, 2018 |

Crypto-to-Cash Lending is Growing Quite Popular These Days

Over the past year, cryptocurrency-backed lending has grown very popular with organizations like Salt Lending, and Unchained Capital trying to capture a piece of this emerging industry. Projects like Salt Lending have issued millions worth of crypto-backed loans so far and the teams behind these digital currency operations believe crypto-to-cash lending is going to be a pretty big deal in the future. Furthermore, this week a company called Nexo also plans to offer a digital currency for cash lending platform and raised $ 50Mn USD in capital from venture capitalists like the Techcrunch founder Michael Arrington.

Also read: Six Alternatives to Telegram for Cryptocurrency Communities

The Crypto-to-Cash Phenomenon

Crypto-to-Cash Lending is Growing Quite Popular These DaysA new business model has formed recently called crypto-to-cash lending and this new financial sector is growing exponentially. The phenomenon follows the modern rise in recent years of peer-to-peer lending offered by financial giants like the Lending Club. Right now there are a few operations that are attempting to break the mold when it comes to this type of lending with projects such as Unchained Capital and Salt Lending taking the lead.

Then there is a new startup called Nexo that plans to provide crypto-infused instant credit to borrowers without the need for credit checks. VCs like the Techcrunch founder Michael Arrington, and others recently pumped $ 50Mn into Nexo and the company has a security partnership with Bitgo. Nexo believes it will be the first firm to provide instant crypto-backed loans as it states on its website:

Don’t sell your crypto — Don’t lose the upside potential — Get an instant crypto-backed Loan from Nexo.

Two Lending Projects Trying to Make a Mark in the Crypto-Lending Industry

Unchained Capital

Crypto-to-Cash Lending is Growing Quite Popular These DaysUnchained Capital is a firm that offers cash loans to businesses and individuals who provide Bitcoin Core (BTC) as collateral. The company believes cryptocurrency holders need a method to borrow against their digital assets without selling them. Unchain Capital’s interest rates are between 12.5-14 percent APR and funds are wired to a bank account of the customers choosing. Customers make monthly payments on the loan and once the credit is paid in full collateral will be reimbursed. Moreover, individuals can borrow up to $ 1Mn without a credit check and the ratio of loan appropriation is 50 percent.

If the value of the collateral drops by 25 percent Unchained Capital will request more capital. If the digital asset dips below the 45 percent region the company can repossess the capital to recover any lost principal and interest. Unchained Capital loans USD to American residents and businesses with options to renew a loan when it comes to term. Both individuals and businesses may want to utilize a loan for tax savings as borrowing removes the need to pay capital gains.

Salt Lending    

Crypto-to-Cash Lending is Growing Quite Popular These Days

Then there is another program called, Salt Lending, a blockchain-backed loan program built on top of the Ethereum network. SALT tokens are created from the ERC-20 branch. The Salt Lending platform is more peer-to-peer than Unchained Capital as it lends funds from a large group of Salt lenders. The project has gained a lot of attention and has lent over $ 40Mn USD worth of digital currency loans since the project’s inception. Further, the Salt Lending platform has accrued over 65,000 members in less than a year. Just like Unchained Capital once a loan is paid back on the Salt Lending platform then a borrower can obtain their cryptocurrency again.

According to Salt under Regulation D of 17 CFR § 230.501 et seq., all lenders are accredited investors who have passed a “lending suitability test.” There are various ways a lender will participate with the Salt Lending system and loans are processed using traditional financial markets. Salt users can borrow funds between $ 10,000 and $ 1,000,000 and no credit check is required.

A New Peer-to-Peer Lending Economy Emerges

Crypto-to-cash lending has been a trending business model in this industry for well over a year and there are other platforms trying similar ventures like Coinloan, Othera, Ethlend, and Everex. The popularity of this type of business is growing due to the many benefits loans like these offer such as lending without credit checks, and the ability to obtain fiat based off crypto reserves without paying capital gains. It’s likely there will be a lot more startups attempting to enter this market as the Crypto-to-cash lending economy is growing vibrant. 

What do you think about cryptocurrency lending projects? Let us know your thoughts on this subject in the comments below.


Images via Shutterstock, Salt Lending, Nexo, and Unchained Capital.


Need to find a specific transaction on the Bitcoin Cash network? Check out Bitcoin.com’s new Block Explorer today. Want to see all 500 cryptocurrency market caps in real-time? We got a destination for that too called Satoshi Pulse

The post Crypto-to-Cash Lending is Growing Quite Popular These Days appeared first on Bitcoin News.

Bitcoin News

PR: Final Opportunity to Participate in the MoneyToken Pre – Sale. Take Part Today in the Development of the Revolutionary Lending Platform

April 21, 2018 |

Final Opportunity to Participate in the MoneyToken Pre - Sale. Take Part Today in the Development of the Revolutionary Lending Platform

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

The MoneyToken Pre-Sale has almost ended – with only one week left for contributions and the chance to enjoy Pre-Sale bonuses.

Moneytoken is an innovative cryptocurrency-backed lending model which allows investors to hold onto their cryptocurrency assets and spend cash at the same time.

 

News highlights from MoneyToken over the last few months – demonstrating just how successful the team and platform have been;


– Platform Launched at account.moneytoken.com and available for crypto-backed lending
– Roger Ver, founder of Bitcoin.com, joins the MoneyToken advisory board
– Private Sale results: $ 1.5 million raised in contributions

– Pre-Sale results so far: over $ 4.5 million raised
– Community reach: more than 10,000 users join MoneyToken’s Telegram channel and subscribe to MoneyToken’s official Twitter account

The Soft Cap target has already been passed, and the Hard Cap target is in sight.

Don’t lose out on the final opportunity to join the MoneyToken Pre-Sale and receive a 25% bonus – https://moneytoken.com/

Contact Email Address
james.hendersonmt@gmail.com
Supporting Link
https://moneytoken.com/?utm_source=bitcoin.com&utm_medium=pr&utm_campaign=pre-sale%20end

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Final Opportunity to Participate in the MoneyToken Pre – Sale. Take Part Today in the Development of the Revolutionary Lending Platform appeared first on Bitcoin News.

Bitcoin News

Wells Fargo to pay $1 billion in fines over auto, mortgage lending abuses

April 20, 2018 |

Federal regulators slapped Wells Fargo & Co. with a fine of $ 1 billion on Friday, punishing the San Francisco bank for abuses that harmed mortgage and auto loan borrowers, and for what regulators said was a pervasive and “reckless” lack of risk management.

The penalty, announced by the Office of…


L.A. Times – Business

Wells Fargo reportedly facing huge fine for mortgage lending and auto insurance problems

April 10, 2018 |

The Consumer Financial Protection Bureau is considering fining Wells Fargo & Co. hundreds of millions of dollars for its mortgage-lending and auto-insurance abuses — following up on a threat by President Trump to take aggressive action against the bank.

The agency is in talks with the San Francisco…


L.A. Times – Business

PR: Lavenir, the Cryptocurrency Lending Platform Will Launch Its ICO on April 4th

April 3, 2018 |

Lavenir, the Cryptocurrency Lending Platform

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Lavenir is the latest addition to the cryptocurrency world that is going to begin its ICO on April 4th and conclude on May 4th. It is all set to bring a new revolution into the market by digitizing the lending process.

Lavenir, the newly launched cryptocurrency lending platform is going to launch its ICO on April 4th, 2018, that will last until May 4th, 2018. The value of one Ethereum (ETH) is equal to 1000 Lavenir (LVR) and early investors will be able to receive a variety of bonuses through the ICO. The Lavenir platform will allow the individuals to deposit cryptocurrencies onto the site and lend them to the site for interest payments. It is created with an aim to provide a more sustainable approach over fraudulent cryptocurrency investment sites.

Lavenir is bringing a new revolution in the cryptocurrency trading by enabling the individuals to invest in professional crypto traders and receive the share of the profits made, based on a preset interest rate. Unlike several other investment sites that accept only Bitcoin, Lavenir accepts a variety of cryptocurrencies including Bitcoin, Litecoin, Ethereum, Dash, Monero and Ripple. With the possibility of new cryptocurrencies being added in the future to match the needs of investors. The platform is backed by a team of expert professionals with years of experience in crypto trading and other financial instruments such as stocks and bonds. Together, they strive to make cryptocurrency investment more profitable for the investors regardless of their level of engagement in the cryptomarket.

Lavenir is a unique platform that is created with an aim to provide long-term growth potential to the investors. It offers a variety of investment terms and rates that match the long-term vision of the platform as a stable, secure and reliable way of delivering returns on cryptocurrency investments to ultimately, provide a dependable source of income for the investors. The interest rates offered on this platform are also lower than some other lending platforms to accommodate this more sustainable business model. No unreasonably high interest rates are offered that would compromise the platform’s ability to pay investors.

Furthermore, unlike some of the other cryptocurrency lending platforms whose interest rates may fluctuate after the investment is made due to complicated formulas in calculating returns, Lavenir locks in the interest rates at the time the investment is made so that they don’t change. Also, the LVR interest payouts are guaranteed on a day to day basis, to make it preferred by the investors further.

In the regularly fluctuating cryptocurrency market, Lavenir has adapted its investment strategies to balance out the high profit and low-profit days so that investors can achieve benefits long-term.

More information about Lavenir and the ICO can be found at www.lavenir.io

Contact Email Address
drmlenac@gmail.com
Supporting Link
http://www.lavenir.io

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Lavenir, the Cryptocurrency Lending Platform Will Launch Its ICO on April 4th appeared first on Bitcoin News.

Bitcoin News

PR: US Fintech Expert From Prudential Financial Launches Cryptocurrency – Backed Lending Startup Money Token

February 23, 2018 |

Money Token - Cryptocurrency Backed Lending

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Alex Rass, blockchain expert and enthusiast with a history of Fintech experience gained at Prudential Financial, Bloomberg and Goldman Sachs has launched a blockchain based financial services ecosystem called MoneyToken.

MoneyToken focused on cryptocurrency-backed lending, stablecoins development and crypto assets leveraging.

Its innovative economic model allows you to hold onto your cryptocurrency assets and spend cash at the same time.

The MoneyToken Private Sale has begun and more than $ 600,000 has already been raised to support the project.

To gain access to this ‘early birds’ Private Sale, interested contributors should apply to join the
Money Token Whitelist http://moneytoken.com/#whitelist

If you are a cryptocurrency holder, or interested in finding out more about the project you can join MoneyToken telegram chat https://t.me/moneytoken.

Note: Given the volatility in the current cryptocurrency market, the token balance of all Private Sale participators will be reassessed upwards should the value of ethereum increase by the end of the general Token Sale in May. This provides all early contributors in MoneyToken insurance of their purchase in a volatile market.

MoneyToken consists of:
– MoneyToken lending platform that provides loans in fiat currencies or stablecoin, secured by collateral in BTC and ETH;
– MTC – MoneyToken’s own stablecoin;
– MoneyToken decentralized exchange service.

What is the purpose of MoneyToken??
The MoneyToken platform seeks to resolve one of the key issues plaguing the crypto market – making these assets effective liquid instruments.

How do you persuade cryptocurrency owners to trade or sell instead of holding their assets?
How can you benefit from the value of your cryptocurrency when the only sensible strategy is to hodl for the long term?

What if you could use your crypto-assets as collateral to take out a loan in fiat money?
In this way, you don’t need to sell your appreciating Bitcoin but, at the same time, you have the opportunity to spend traditional money on essentials in the here and now.

MoneyToken is about creating a secure place for lenders and borrowers to meet, provide appropriate and proper risk management to clients, and reducing the risk lenders face due to the volatile nature of crypto assets.

MoneyToken aims to resolve these issues, managing clients’ risks and creating a stable lending model using cryptocurrencies as a security deposit. Our model aims to facilitate access to credit while building a new credit market – loans backed by crypto collateral, based on the security and transparency of blockchain technology,” comments Alex Rass, co-founder and CTO of the project.

Contact Email Address
james.hendersonmt@gmail.com
Supporting Link
https://moneytoken.com/

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: US Fintech Expert From Prudential Financial Launches Cryptocurrency – Backed Lending Startup Money Token appeared first on Bitcoin News.

Bitcoin News

PR: Money Token Applies for Royalty-Free Patent on Crypto-Backed Lending Technology

February 18, 2018 |

Money Token Applies for Patent on Crypto-Backed Lending Technology

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

WIPO, the World Intellectual Property Organization, has received a new patent application, owned by the MoneyToken project, as announced on the MoneyToken blog.

The application describes a blockchain-based technology process of decentralized lending, secured by cryptocurrency assets as collateral, that doesn’t require vouching agents and that uses smart contracts and multi-signature wallets within the crediting process.

The premise is straightforward: By taking a cryptocurrency-backed loan with MoneyToken, users can receive liquid funds and hold their crypto assets all at the same time.

To gain access to the MoneyToken Private Sale, all users should join the MoneyToken Whitelist.

Founders comments on the patent:
https://medium.com/@moneytoken/jerome-macgillivray-money-token-founder-applied-to-patent-cryptocurrency-backed-loans-technology-f119dd589bb1

Contact Email Address
james.hendersonmt@gmail.com
Supporting Link
https://moneytoken.com/

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Money Token Applies for Royalty-Free Patent on Crypto-Backed Lending Technology appeared first on Bitcoin News.

Bitcoin News

Pricey personal loans would be outlawed by bill that would reshape state lending industry

February 16, 2018 |

California lawmakers are once again trying to cap the interest rate that lenders can charge on large personal loans, renewing an effort to eliminate the state’s flourishing market for super-expensive debt.

A bill introduced Thursday by Assemblyman Ash Kalra (D-San Jose) could dramatically reshape…


L.A. Times – Business