Delio will launch Exchange-Based Cryptocurrency Lending Service in 4 Countries Next Month
Blockchain platform project ‘Delio’ will soon launch exchange-based cryptocurrency secured loan service.
This July, Delio established Deliolending to start crypto finance business in October. The goal is to actively expand its serviceable areas throughout 4 countries, especially in Singapore, US, Japan, China, and etc.
On 5th, at The Bchain’s ‘Digital Asset Technology Trends and New Business’ seminar, James Jung (CEO of Delio) mentioned, “The current crypto loan market size is about ₩10 tril. (appr. $8.37 bil. USD)”, “Before the end of this year, Delio aims to increase the capital up to ₩500 bil. ($418 mil. USD) and eventually to ₩1 tril. ($837 mil. USD) and dominate 10% of the entire market”.
Deliolending offers 2 services — B2C loan and Exchange-Based loan, which use DLO (Delio token), BTC, and ETH as collateral and lend KRW (₩) directly.
B2C allows a direct lending service which allows a user to lend online. B2B loan is provided in the exchange as the lender can keep one’s coins or tokens and borrow cryptocurrency or fiat. With respect to B2C, Delio directly manages users’ collateral(crypto). Regarding B2B loan, the principal will automatically be returned to one’s wallet when it enters a bear market. Also, the lending period can be self-extended after 3 months.
James said, “Most investors are looking forward to higher prices for Bitcoin and Ethereum, and they are attracted if they can make a profit of up to 18% per year on the principal rather than leaving it alone.” Also, “exchanges can also benefit from cryto lending service which can add new users, maximize trading volume and assets kept in the wallet”.
In Delio Defi ecosystem, there are two tokens — Delio and Delio tokens. Delo is a stable coin issued with cash. It functions to ensure stable operation of the ecosystem by being distributed only within the ecosystem without being listed on the exchange.
Delio is a cryptocurrency that links between Delo and the exchange. With stable coin, which minimizes price volatility, it plans to expand the ecosystem to Delio, which can be traded at the exchanges.
In the long run, the company is also planning to apply smart contracts to mortgage lending services to pay interest to Delio.
James added, “Our current loanable amount is ₩280 billion (appr. $234 mil. USD); the goal is to raise it up to ₩1 trillion ($837 mil. USD)”. “We’re preparing for the exchange-based cryptocurrency lending service in October”.
[Originally written in theBchain, “ 델리오, “다음달 4개국에 거래소 기반 암호화폐 대출 개시” by Reporter Yoorim Jung ( firstname.lastname@example.org)
Source : 더비체인(http://www.thebchain.co.kr))
September 6th, 2019 [http://www.thebchain.co.kr/news/articleView.html?idxno=5516]
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