More state regulators are gunning for the OCC and Brian Brooks, this time over usury laws and predatory lending. Eight states and the District of Columbia are suing the national bank regulator over a rule change that just came into effect. Per a Jan. 5 filing, New York’s attorney general is leading the charge against…
Read more
SBI plans to add support for Ether and XRP lending in the near future. Japanese financial giant SBI Group is introducing a cryptocurrency lending service through its crypto-related subsidiary, SBI VC Trade. According to an official announcement on Nov. 24, the new crypto lending platform will allow users to lend their crypto to SBI and…
Read more
“We just want to know that our funds are safe,” said one Cred user United States-based cryptocurrency lending service Cred filed for Chapter 11 bankruptcy protection on Saturday, leaving many customers searching for solutions to get their funds. According to court documents, the legal team for Cred CEO Daniel Schatt filed bankruptcy papers for the…
Read more
A supposed Uphold user said that the first issues on CredEarn started on Oct. 15. Cred, a United States-based cryptocurrency lending service, has officially announced the temporary suspension of operations due to an ongoing investigation. On Oct. 29, Cred executives tweeted that the company is now cooperating with law enforcement authorities to investigate a “recent…
Read more
Researcher argues that fixed rate lending and borrowing would bring DeFi closer to traditional finance DeFi lending protocols have attracted billions of dollars in liquidity provision by offering huge returns, however the sector badly needs more fixed rate lending options according to one researcher. A number of protocols, including Yield Protocol, UMA Protocol, and Mainframe…
Read more
Borrowers in the U.S. can now get funds with a DeFi-powered Visa card by Swipe. Swipe, a Binance-owned cryptocurrency debit card provider, is expanding its offering with a new crypto Visa card that allows users to borrow funds using blockchain technology. Dubbed the “LendFi Visa Card,” the new product deploys major decentralized finance protocols to…
Read more
Despite skepticism about loosening regulations on loans, the Fintech Task Force couldn’t stop talking about crypto as a way of upgrading payments in the U.S. In a hearing on Tuesday, the Congressional Fintech Task Force heard arguments on new rules that would potentially expand banking regulations to accommodate more technology firms providing financial services. A…
Read more
It’s all about location and perception. Much has been said about attractive interest rates offered by popular crypto lending platforms like BlockFi, Celsius Network and Nexo. However, there are two sides to every coin. Paying out high interest rates requires charging even higher rates to the borrowers. Yet, Nexo co-founder Antoni Trenchev disagrees that crypto…
Read more
This project is focusing on cross-chain interoperability and on-chain credit scoring to advance the DeFi lending ecosystem. Wing, a lending protocol built on the Ontology blockchain, currently has $180 million in crypto assets staked on its platform — not a meager amount, even by Ethereum (ETH) standards. Eric Pinos, Ontology’s ecosystem lead for the Americas…
Read more
Decentralized finance has taken the crypto world by storm, reshaping the space. Blockchain technology is disrupting every sector of the global economy with its limitless opportunities and innovative products. Decentralized finance is one of the sectors that has been trying to shake the traditional financial ecosystem. The multitude of DeFi applications emerging all over the…
Read more
