back Back

BitLeague introduces Bitcoin-backed loan services

By Pavithra R

November 27, 2020

  • Bitleague
  • USA
Share

California based bitcoin investment platform provider BitLeague has announced its plan to provide crypto-based USD loan services.

Through BitLeague’s lending arm DigitAmex LLC (U.S. licensed), the firm will offer industry-leading bitcoin-backed loans to clients. Cryptocurrency investors will be able to borrow from 3.99% APR without selling their bitcoin holdings on the website or via the BitLeague App. The loan rate will be adjusted based on term, loan to value ratio, etc.

“This is a new milestone for our business. Our clients have enjoyed our zero-commission bitcoin trading service, and now, they can get loans from us at a very competitive rate without selling their bitcoin investment. We see a substantial demand from clients for this essential product. Having received our Lending License from California, this bitcoin-backed loan service will be rolled out from this market, and we hope to cover the entire U.S.U.S. in the short to medium term,” said Yifeng Mao, founder of BitLeague.

Founded by Citigroup, Franklin Templeton, and Goldman Sachs veterans BitLeague is FinCEN registered crypto financial service platform. The company’s goal is to disrupt the banking business model. It makes use of patented blockchain technology and offers security by ensuring fiat currencies to be stored in U.S.U.S. custodial bank accounts and covered by FDIC insurance. It offers over 9% annual interest rate to bitcoin investors, low loan rates and zero commission bitcoin trading services.

Previous Article

November 27, 2020

HooYu to digitalise lending onboarding journey for Paylink Solutions

Read More
Next Article

November 27, 2020

Klarna partners with Express to offer US shoppers flexible alternative payment solutions

Read More






IBSi Daily News Analysis

Payment, innovation

May 27, 2024

Bitleague

New tech boosts European payments with 40% conversion rate increase

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Stripe launches new payments and financing tools in the UK

Read More

Today

WeMoney secures $3m and teams with Mastercard for Open Banking

Read More

Today

Newgen Software onboards Finastra to expand market reach

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023