DrawBridge Lending To Offer Fiat Loans for Bitcoin Holders with No Margin Calls
CHICAGO--(BUSINESS WIRE)--Jul 30, 2018--DrawBridge Lending has developed a new lending platform providing Bitcoin holders a way to pledge their digital assets for a cash loan. Unlike other lending services in the crypto space, DrawBridge Lending will never initiate margin calls requiring borrowers to “true-up” if the loan-to-value increases from its original level.
“There is a tremendous need in the US market for secured lending in the digital asset space. The high barriers to entry imposed by regulation and accessible capital have made addressing this demand difficult,” said Jason Urban, CEO, DrawBridge Lending. “Our business leverages our team’s collective experience in finance and regulation to bridge this demand with institutional pools of lending capital in a highly compliant manner. Our mantra is simple: We have money to lend and there will never be a margin call.”
DrawBridge Lending will launch a Beta program in November to select clients who will pledge Bitcoin as collateral and receive simple-interest, short-term renewable loans. Interested participants may now apply for the Beta program at https:www.drawbridgelending.com.
DrawBridge Lending’s executive team has been developing their lending platform since 2017. The team brings over 100 years of finance, legal, lending, technology and trading expertise to the digital asset lending space.
“The executive team’s vision will extend beyond Bitcoin as more crypto assets are approved by regulators for trading on U.S. exchanges. Additionally, institutional lenders are finding our risk management and regulatory experience in the trading space a major factor in sponsoring loans,” said Tom Anderson, President, DrawBridge Lending.
About DrawBridge Lending: DrawBridge Lending initiates Fiat loans secured by digital assets on a Blockchain. Operating as a CFTC regulated Commodity Trading Advisor, DrawBridge Lending uses both a custodian bank & risk management strategies to protect borrower assets and lender capital. The DrawBridge Lending vision is simple – provide the most reliable and efficient service for connecting institutional lenders with borrowers seeking to monetize any asset recorded on a Blockchain.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180730005559/en/
CONTACT: DrawBridge Lending
KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS
INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS DATA MANAGEMENT OTHER TECHNOLOGY SMALL BUSINESS PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: DrawBridge Lending
Copyright Business Wire 2018.
PUB: 07/30/2018 12:08 PM/DISC: 07/30/2018 12:08 PM