Bitstamp Launches Crypto Lending Service in Europe, Hong Kong and UAE

• The lending product will provide daily incentives and up to 4.4% APY.
• It is unavailable in the United Kingdom and the United States.

Bitstamp has recently announced the launch of a lending service in Europe, Hong Kong, and the United Arab Emirates. There is no set lock-in term for the exchange’s lending product, which provides daily incentives and up to 4.4% APY. Bitcoin, Ethereum, Circle USDC, and Tether USDT are all supported for lending. Moreover, several other altcoins are also supported.  Since March, a hand-picked group of consumers has been using the platform in stealth.

Tesseract, a Finnish lending company that also provides a white-label platform, has teamed with Bitstamp. Stablecoin loans on the Tesseract platform need full collateralization from borrowers. Apart from Tesseract’s other partners, the partnership employs a distinct legal organization to hold client loans and assets.

Publishing Monthly Metrics Updates

This product is currently limited to the markets of France, Ireland, Italy, and Spain, as well as Hong Kong and the United Arab Emirates. It is unavailable in the United Kingdom and the United States.

Bitstamp CEO Jean-Baptiste Graftieaux claims his company is “one of the most regulated” in the cryptocurrency industry. With the platform’s new lending feature, users can gain from the development of crypto in a trustworthy and safe manner, he said.

The CEO further added:

“We’re re-building crypto lending from the ground up — shifting from the often opaque and mysterious world of crypto lending to being radically transparent and accessible.”

In an effort to make lending more easily available, Bitstamp will publish monthly updates. Users will be able to get information about the product’s performance and potential risks from the reports. Lending portfolio concentration, collateral levels, and borrower risk profiles are all examples of metrics.