Amid the growing interest of large companies in digital assets, a crypto-lender supported by the Compound Finance protocol is launching dollar loans under BTC, ETH and ERC-20.
Large business-focused decentralized finance (DeFi) platform Compound Treasury is set to offer crypto-backed over-collateralized loans to accredited institutional clients. Compound Treasury customers will be able to borrow on the platform in US dollars or the USDC stablecoin using bitcoin, ether and ERC-20 tokens as collateral.
The company claims that the loans are perpetual, that is, without a repayment schedule. Cryptocurrency borrowers will have some flexibility in servicing their debt obligations as long as their loans are over-collateralised.
It is specified that a loan for cryptocurrencies can be obtained at a rate of 6% per annum. The liquidity to back the loans will come from both the platform’s clients and the Compound DeFi protocol.
The company promises that the cryptocurrency collateral provided by borrowers to increase transparency will be placed on the platform’s wallet. Compound Treasury became the first DeFi-backed company to receive a B credit rating from S&P.
On September 13, the Aada Finance platform launched a cross-currency lending protocol on the Cardano mainnet. Aada Finance engaged specialists from Vacuumlabs and Wingriders to conduct an external audit and code analysis.
Source: Bits
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