That is where MoneyToken comes in. MoneyToken a British Based company accepts your cryptocurrency as a collateral(Refunding any interest accured over the lending period), and then gives fait or stable coin in return.
It's interesting to learn about another company offering such a service. This isn't new. What's the spread over collateral that MoneyToken will loan, i.e., if I put up 1 BTC in collateral how much will MoneyToken loan me?
The interest rate is low,
What's the interest rate. Don't bullshit us with "it depends" type lines, give us real rates based on a real scenario.
It's global and doesn't have to involves the bank.
If they're taking deposits and giving out loans they are a bank. It's a definition. It's not a curse. The thing that makes banks bad is fractional lending - so when MoneyToken takes my 1 BTC as collateral for my 1.# BTC loan...do they lend that money out again, which further depeletes their reserves on hand and leaves the impact of their failure significant?
The concept of crypto-backed loans is fantastic. The platform is already launched and Roger Ver is on board!
"Fantastic" is an impression I have yet to agree with, but is using the words "Roger Ver" supposed to make us enthusiastic about this? If so, why?