VELIC, a security-focused crypto finance platform, has announced the addition of loan service starting from June 18th, states the official press release that was shared with iHodl.
VELIC Loan manages to stay competitive by providing quick loan-to-trade process. While a separate account creation and onboarding process, as well as the manual transfer of cryptocurrency, is a must with other crypto-backed lending solution providers, VELIC Loan users can instantly borrow and trade with the received loan proceeds on the VELIC platform.
According to the announcement, the loans will initially be offered in USDT, with an aggregate cap of 20,000 USDT per account, and accepted form of collateral will be bitcoin (BTC). VELIC plans to introduce support for additional collateral types in the coming months.
Earlier, the ICON Foundation, which drives South Korea's leading blockchain project ICON (ICX), announced its partnership with VELIC, in listing opportunities for projects working with ICX Station.
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