Using the Accord Money platform, users can take out BSV collateralized Accord Dollar loans, earn AMT, liquidate undercollateralized positions to earn revenue, as well as repay and redeem loans.
The loan was taken to cover for the loss of $850 million in co-mingled client and corporate funds caused by entrusting its liquidity to a Panamanian company called Crypto Capital, according to NYAG.
Silvergate Capital Corporation believes the time is right to get into the cryptocurrency loan business.
The company is offering U.S. dollar loans for up to 85% of the value of BTC or ETH pledged as collateral, a vast increase from competitors that offer 50% loans of pledged crypto assets.
Bitbond, an online bank founded in 2013 by Radoslav Albrecht, is making use of cryptocurrency's borderless nature for international loan payments.
BBVA used a private blockchain to conduct a €75-million ($91.4 million) loan from start to finish. In doing so, it has now become the first global bank to enlist the technology in a loan operation.
