Unsecured Lending Platform Truefi Unveils $100M Single Borrower Pool Developed for Blockchain.com – Bitcoin News

Crypto firm Blockchain.com has announced that it has secured up to $100 million in liquidity from Truefi’s single borrower pool. The pool will initially be capped at $100 million for the first year, and Blockchain.com intends to use the funds to bolster its own “liquidity pools, leveraged trading support, and book of credit services.”

Blockchain.com uses Truefi’s only borrower pool

Blockchain.com, the leading digital asset services and exchange company, has announced that it has secured $100 million in liquidity from unsecured lending and lending platform Truefi. Essentially, the decentralized finance (defi) platform leverages Truefi on-chain credit scores to facilitate unsecured lending. The platform claims to offer competitive returns for lenders with “no lock-up period and high exit liquidity.”

According to Truefi, the single borrower pool will provide “debt to Blockchain.com.” [that] will be available to all Know Your Customer verified lenders outside of the US on the Truefi platform, offering them an expected APR of 8.50 percent before incentives.” Truefi previously introduced the single borrower pool concept with Alameda Research, and it does Team also helped Perpetual Protocol launch the first protocol-to-protocol credit pool.

Trusttoken CEO Expects More Financial Institutions to “Bring Their Ledgers On-Chain”

Rafael Cosman, the CEO of Trusttoken, stated in a statement sent to Bitcoin.com News that Truefi welcomes Blockchain.com to the group and further said that he is not surprised that major financial institutions are using on-chain books. “It’s inspiring — while not surprising — to see more and more leading financial institutions bringing their books on the chain and bringing even more financial opportunity to our global lender base,” noted Cosman. Trusttoken is Truefi’s parent company and as of November 2020, Trusttoken has “closed $1.3 billion in lending and $1 billion in repayments with no defaults.”

Reid Simon, Head of Credit and Lending at Blockchain.com, believes unsecured lending and lending are very efficient and the company looks forward to expanding the portfolio. “On-chain unsecured lending is one of the most efficient ways for high-quality borrowers to connect with global lenders at scale,” explained Simon. “We look forward to working together to provide the Truefi community with a new financial portfolio for them to explore and grow the portfolio over time as we build credit histories with Truefi lenders.”

tags in this story

100M, Alameda Research, Blockchain.com, Blockchain.com Portfolio, Blockchain.com’s Lending & Lending Leader, Borrowing, Trusttoken CEO, Decentralized Finance, DeFi, Defi Platforms, Know Your Customer-verified, Liquidity Pools, Perpetual Protocol, Portfolio, Protocol-to-Protocol Lending Pool, Rafael Cosman, Reid Simon, SBP, Single Borrower Pool, truefi, Truefi Lending

What do you think of Blockchain.com using Truefi to secure $100 million in liquidity from unsecured borrowing and lending platform? Let us know what you think about this topic in the comment section below.

Jamie Redman

Jamie Redman is the news director at Bitcoin.com News and a Florida-based financial technology journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about today’s emerging disruptive protocols.

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