The crypto firm Blockchain.com has revealed it has secured up to $100 million in liquidity from Truefi’s single-borrower pool. The pool will be initially capped at $100 million over the first year and Blockchain.com aims to use the funds to bolster its own “liquidity pools, leverage trading support, and book of lending services.”
Rafael Cosman, the CEO of Trusttoken explained in a statement sent to Bitcoin.com News that Truefi welcomes Blockchain.com into the fold, and further said it doesn’t surprise him to see large financial institutions leverage on-chain books. “It is inspiring – although not surprising – to see more leading financial institutions bring their books of business on-chain, giving our global lender base even more financial opportunities,” Cosman remarked. Trusttoken is the parent company of Truefi and since November 2020, Trusttoken has “completed $1.3 billion of origination and $1 billion of repayments with no defaults.”
Blockchain.com’s head of credit and lending, Reid Simon, believes uncollateralized borrowing and lending is very efficient and the company looks forward to growing the portfolio. “Uncollateralized on-chain borrowing is among the most efficient ways for high-quality borrowers to connect with global lenders, at scale” Simon detailed. “We’re excited to work together to provide the Truefi community with a new financial portfolio to explore and to grow the portfolio over time as we build credit history with Truefi lenders.”
What do you think about Blockchain.com tapping into Truefi to secure $100 million in liquidity from the uncollateralized borrowing and lending platform? Let us know what you think about this subject in the comments section below.