Over the past year, cryptocurrency-backed lending has grown very popular with organizations like Salt Lending, and Unchained Capital trying to capture a piece of this emerging industry. Projects like Salt Lending have issued millions worth of crypto-backed loans so far and the teams behind these digital currency operations believe crypto-to-cash lending is going to be a pretty big deal in the future. Furthermore, this week a company called Nexo also plans to offer a digital currency for cash lending platform and raised $50Mn USD in capital from venture capitalists like the Techcrunch founder Michael Arrington.
A new business model has formed recently called crypto-to-cash lending and this new financial sector is growing exponentially. The phenomenon follows the modern rise in recent years of peer-to-peer lending offered by financial giants like the Lending Club.
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