AbraBusinessCrypto ExchangesLoan

Crypto Exchange Abra Launches Fiat Loan Feature

The new feature lets customers take out a loan by providing crypto as collateral.
Abra Introducing Fiat Loans
Abra is rolling out a new loan feature.  
The crypto exchange’s customers can now borrow U.S. dollars when they provide crypto as collateral. Bill Barhydt, founder and CEO of Abra, said of the update: 
“We’re excited to roll out our new Borrow feature by popular customer demand. By allowing people to borrow US dollars against their digital assets users can immediately tap into their crypto price gains without selling their crypto or forgoing future price gains.”
Abra Borrow is designed to meet the growing demand for cryptocurrencies as interest in the asset class hits new highs. Crypto holders will not need credit approval to take out a loan, in contrast to many traditional finance services. 
Interest rates will start at 3.95%, with loans to be paid back within six to 24 months. Bitcoin, Ethereum, Tether, and Litecoin can all be used as collateral.
The feature is live on Abra’s mobile app today globally and across 31 U.S. states. According to the press release, more states will be added imminently. 
Abra was founded in San Francisco and has snowballed in popularity since then. It has over 1 million customers worldwide and supports trading on over 100 crypto assets. 
Users can also earn interest of up to 10% when they hold their assets on the platform. The introduction of a loan service is yet another sign that crypto’s leading exchanges are beginning to take …
Story continues on Crypto Briefing

Related posts
BusinessCEOVenture Capital

Crypto Briefing Appoints New CEO

Crypto Briefing, one of the largest independent crypto publications, announced that it is appointing a new CEO. Crypto Briefing Continues Commitment to Readers Han Kao, the founder of Crypto Briefing, is stepping down from his role as CEO. The board…
BanBithumbBusinesskoreaorder book sharingregulationregulatorstrict

OKEx Korea Shutting Down, Customers Must Withdraw Funds

OKEx Korea released a statement on Tuesday saying customers must withdraw their fiat and crypto funds before Apr. 7, at which time the exchange will shut down permanently. OKEx Closure Part of a Wider Problem The exchange did not give…

FATF Recommends Heightened Restrictions On Virtual Assets And Service Providers

In its updated guidance on virtual assets and virtual asset service providers, the FATF recommends requiring more strict KYC/AML measures.The Financial Action Task Force (FATF) has updated its “Guidance for a risk-based approach to virtual assets and VASPs.” Previous FATF…