Blockchain.com Wallet Users Can Now Access USD Stablecoins’ Loans
An announcement by the crypto wallet and exchange provider, Blockchain.com shall enable users to borrow against their holdings. The loans are available in US Dollar-denominated stablecoins against holdings of Bitcoin. All holders of Blockchain.com wallet can access these borrowings immediately once collateral is made available.
While there was no specificity on which stablecoins the loans would be paid out in, there is a high likelihood it will be PAX stablecoin. This dollar-pegged stablecoin was added by the wallet last year.
Increased Crypto Trading Abilities
According to Peter Smith, Blockchain.com‘s co-founder and CEO, the common financial objective of both institutional and retail investors is wealth growth and risk management. The tools available to each group to achieve this objective differ by quite a margin. The CEO believes that the firm’s current combination of trading products and lending abilities changes that. Retail investors now gain the ability to trade like the big players without having to leave their wallets and sell their crypto holdings.
Users are now a few clicks away from getting a USD-denominated stablecoin loan according to the firm. What users now choose to do with holdings in their wallet is entirely their choice since they still possess their private keys.