The lender of San Francisco Divine Research delivered around 30,000 short-term cryptographic loans not supported since December, using the IRIS digitization platform of the IRIS platform of Sam Altman of OPENAI to check the borrowers.
Divine offers loans at less than $ 1,000 in the Stablecoin USDC (USDC), mainly to foreign borrowers who have been ill -served by traditional finance. He uses World ID to ensure that users cannot open several accounts after defect.
“We lend to average people such as high school teachers, fruit sellers … fundamentally, anyone with internet access can have access to our funds,” said divine founder Diego Estevez, Financial Times. “This is microfinance on steroids.”
Interest rates vary from 20%to 30%, with a default rate of first housing reported by around 40%. “High interest rates compensate for these losses,” said Estevez, adding that free global tokens delivered to borrowers can be “partially” recovered.
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Daily investors can win by financing high -risk cryptography loans
Estevez said divine lenders are daily people looking for solid yields. “Anyone can provide liquidity. We have designed the system so that after taking into account the defect rates and the (of interest) proposed rates, the providers will always achieve a profit. ”
Divine is part of a growing group of high -risk cryptography lenders capitalizing on a renewed market dynamic and political tail winds, including the support of former American president Donald Trump.
Another startup, 3jane, recently collected $ 5.2 million in paradigm and offers non -polled lines of credit in Ethereum. Unlike Divine, 3jane requires “verifiable evidence” of assets or income, but still no guarantee.
3Jane plans to automatically introduce AI agents who follow loan rules, aimed at reducing rates while applying reimbursement. Default loans on its platform are sold to American recovery agents.
Other players such as Wildcat are aimed at market creators and trading companies, offering sub-collateralized loans with customizable terms. According to Wildcat’s advisor, Evgeny Gaevoy, “in the event of a defect, lenders directly coordinate between them to seek the appeal.”
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Crypto loan is gaining ground
The loan remains a small tranche of the cryptography market but attracts increasing attention as institutional actors reintegrate space. Last week, reports revealed that Jpmorgan Chase examines the loans supported by Crypto, planning to lend directly against cryptographic assets like Bitcoin (BTC) and Ether (ETH).
However, the shadow of 2022 is looming, when the main lenders of cryptography like Celsius and Genesis collapsed. CEO of Celsius, Alex Mashinsky, was sentenced to 12 years for fraud, and Genesis settled a trial of $ 2 billion.
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