These new crypto lenders include such notable names as Bixin Capital, FBG Capital and DGroup, founded by Dong Zhao, who made a name by operating one of the longest-running over-the-counter (OTC) trading desks in China. Along with a startup called Babelbank, these investors have originated a combined $60 million worth of loans over the last five months, denominated in cryptocurrencies or, in one firm’s case, Chinese yuan.
The demand, they say, comes mostly domestically, from retail investors, hedge fund traders, and perhaps most unexpectedly, cryptocurrency miners.
“The demand for personal crypto loans doesn’t fluctuate that much regardless of market conditions,” said Xi Wang, head of financial markets at Bixin Capital. “So, in a bearish market, making profits from lending assets is relatively a much [more] stable bet.” Please Keep Reading Here
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