Source: MarketWatch
The rise in crypto-backed debt providers
America’s largest bank, JPMorgan Chase, now allows a select group of clients to use Bitcoin and Ethereum as loan collateral through its Onyx blockchain platform.
BNY Mellon offers a similar service, providing crypto custody and loans simultaneously. Meanwhile, Wells Fargo and Bank of America take spot Bitcoin ETF shares as collateral.
The leading providers of crypto-backed loans in centralized finance include Nexo and Ledn, while in the decentralized space, the leading providers are Aave and Morpho.
Sygnum Bank, a Swiss cryptocurrency bank, provides credit solutions with digital assets or their hashrate as collateral.
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