On the 9th, Delio revealed that it has established a subsidiary company called Deliolending to run its own crypto-based security loan services.
Deliolending offers fiat and/or other cryptocurrency loans for those who Delio (DLO), Bitcoin (BTC), and Ethereum (ETH) as collateral.
According to Delio, the fund scale worths 50 billion KRW (approx. 43 million USD) now, expects it to become 100 billion by the end of this year. It will extend its service areas to the United States, Japan, Europe, and other Asian countries.
Delio has essentially acquired financial, deposit loan and brokerage licenses that authorize Deliolending’s business.
CEO of Delio, James Jung, claims “Delilending will provide perks like interest earnings, currency stability and so on — some revenue will be used to reinvest in Delio tokens and Dapps for additional value creation”.
CEO of Deliolending, Namjun Kim, claims “Cryptocurrency security loan market is growing rapidly; its crypto-financing system with its advanced security loan service, credibility, and safety will also experience rapid growth”.
[Originally written in ZDNet Korea: 델리오, 암호화폐 담보 대출 사업 진출 by Reporter Im Yukyeong (email@example.com) July 09, 2019 http://www.zdnet.co.kr/view/?no=20190709094601]
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