Blockchain.com announced on Thursday its plans to launch its crypto lending service.
Blockchain.com also says they disbursed $120 million to institutions in November alone.
Coingape reports that since its launch in August, the company has witnessed massive interest in the service with institutions’ lending and borrowing service crossing $1.6 billion dollars on the platform.
So far in November, the value has touched the $120 million dollar mark signaling massive institutional interest in the product offered by Blockchain.com.
The company looks to offer loans denominated in the top 20 largest cryptocurrencies including Bitcoin, Ether, XRP, TRON and NEO. The multimillion-dollar loan desk flourishes in times of a crypto lending doom hanging in the market.
This article is not intended to be financial advice. As always, do your due diligence before investing, and never invest more than you can afford to lose.