is now a retail lender has introduced it's own retail lending desk. had already rolled out it's institutional lending in August of last year, but worked hard to roll out their retail lending because in the words of the Executive Vice President of, “Given the state of the global markets, people are looking outside of the traditional finance system for new ways to borrow money”.

According to The Block, the new retail lending desk allows users to borrow USD-pegged stablecoin, USD Digital, against bitcoin held in their wallets.

USD Digital is's in-wallet stablecoin, a spokesperson of the firm told The Block, adding that it is powered by Paxos and functions "just like" Paxos Standard (PAX) stablecoin.

The new retail lending desk currently only supports bitcoin, but it has plans to support more coins "soon," said the spokesperson.

This article is not intended to be financial advice. It is not an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products, services, or companies. Crypto Block does not provide investment, tax, legal, or accounting advice.

As always, do your due diligence before investing, and never invest more than you can afford to lose.

Photo credit: Coinspeaker

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