Are Banks Warming Up To The Idea Of Giving Loans Against Crypto Assets? Here's What Is Happening
ndtv.comCrypto-backed retail loans are similar to any other secured loan
The rise of cryptocurrency has opened up a number of business opportunities for investors as well as lenders. While there are some risks associated with the crypto world, the incredible returns attract traders more intimately when compared to other investment tools. After initial hesitation, banks too have started exploring ways on how to capitalise on this craze.
In India, banks like Kotak Mahindra have begun partnering with online exchanges to support crypto payments. In the US too, banks have started looking at ways to use Bitcoin, Ether and other crypto coins as collateral for cash loans to institutions.
Simply put, crypto-backed retail loans are similar to any other secured
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