Replacement banks: Binance Labs invests in startups for loans in cryptocurrency

Fund Binance Labs have invested in the company Libra Credit that will lend in Fiat and the crypt of the holders Binance Coin. The coin exchange will be the collateral for the loan. This writes Bitcoinistt.

Loans in cryptocurrency

Libra Credit is a decentralized financial platform focused on lending. During the ICO, the company sold its own tokens LBA in the amount of $ 26 million. Leadership in the future Libra plans to launch a desktop version of the service and mobile application.

This partnership has become another addition in a growing market cryptosytem. Now investors can use their digital assets to loans like real estate. Creditors benefit from to take the crypt, as they get more profit when the value of the coin.

Earlier, the company Mike Novogratz Galaxy has invested $ 50 million in the financial area BlockFi, which will issue a loan up to $ 10 million secured Bitcoin and Ethereum. Estonian startup CoinLoan also launched its platform, where users can act both as lenders and borrowers.

Binance is taking a huge share of the stock market. The founder of the exchange forecasts an increase in profits of the company to one billion dollars by the end of this year. Sector cryptosytem can be a real gold mine, because now for the loan does not need a good credit history, and transactions can be completely anonymous.

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