October 4th, 2021 – Lendingblock, the digital asset borrowing and lending firm, today announces the launch of its retail borrowing and lending platform. The platform, which marks the firm’s entry into the retail crypto market, is an extension of the institutional platform first regulated by the Gibraltar Financial Services Commission in 2019.
From today, registered Lendingblock users are able to earn interest on BTC, ETH, and USDT, for terms of 1, 3, and 6 months, or to borrow USDT using BTC and ETH as collateral for the same 1, 3, and 6 month terms. Initial rates will allow user to earn up to 10.8% depending on the asset, or to borrow from 8%.
Steve Swain, CEO, Lendingblock, said “Today is a significant milestone for Lendingblock, but more importantly for many individuals who have been unable to access trusted and transparent financial services. We believe that there is no reason that people should not benefit from the same infrastructure standards expected by regulators, insurers, and professional institutions, and we are very pleased to bring the platform we built for the big boys to a much wider audience.”
The firm, which recently announced licensing of it’s institutional platform to NASDAQ listed Eqonex, has ambitious plans for the platform. These include growing the range of assets supported, the ability to trade eligible assets directly on the platform, and a unique governance model which will let users participate in prioritisation of new features.