Bitfinex Launches P2P Loan Service
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Nov. 11, 2020
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Bitfinex has launched a new peer-to-peer (P2P) loan service dubbed Bitfinex Borrow.

According to an official press release, the new service allows users to use digital token holdings to secure a loan that can be used for trading or be withdrawn from the platform.

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Borrowers can use bitcoin (EXANTE: Bitcoin) or ethereum (ETH) holdings as collateral to get a loan in Tether (USDT) or US dollars (USD). Users can also choose between a rate based upon the Flash Return Rate (FRR) or a fixed-rate loan. Bitfinex claims borrowing rates vary from about 5.5% APR to about 18.25%.

"Users can make a partial or full repayment on both the principal and interest of the loan by moving funds back into their Margin wallet, thereby reducing their daily interest rate," states the announcement.

In June, Bitfinex also launched Dazaar, an open-source P2P protocol for data streaming.

The protocol is an extension to the Hypercore Protocol. In addition to Dazaar, Bitfinex also developed Dazaar Vision, a live video-streaming desktop application built on top of the Dazaar open-source protocol.

Bitfinex Announces Staking Feature for Polkadot

The app reportedly allows anyone to set up live broadcasts and subscriptions, all P2P and in real-time, without signing up required.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

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