)-backed loan, in a major step forward for institutional cryptocurrency adoption on Wall Street.
A spokeswoman from Goldman told Bloomberg that the multinational investment bank had lent cash collateralized by Bitcoin owned by the borrower for the first time in Goldman Sachs’ history. She added that the deal was particularly interesting because of its structure and 24-hour risk management. Such a loan allows for a Bitcoin holder to borrow fiat currency such as the United States dollar by fronting up to their BTC as collateral to the bank. The underlying volatility of Bitcoin can make these loans risky — if the price of Bitcoin drops too far, the borrower may be required to increase their collateral. Otherwise, they risk getting liquidated.
Bridging DeFi and TradFi
Late to the game GoldmanSachs , Abachi_io already the first mover in BNPL loans in Australia :)
Add $GART to your list! This is a huge potential metaverse project , a trial version of its game GriffinLand has been released on the Google Play Store. Additionally, $GART ads have been running for a week at Istanbul Airport, Turkey. GriffinNFTArt GameFi gems DeFi
XMetaverse_ X-Metaverse is a blockchain game developed by Cocos3D and can run on Android, iOS and PC. All game content items and characters are based on blockchain tokens and NFTs. The visual effects and gameplay of X-Metaverse are inspired by StarCraft and Star Wars.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Source: TheBlock__ - 🏆 464. / 53 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: TheBlock__ - 🏆 464. / 53 Read more »