Bitstamp Launches New Lending Services in Europe, Hong Kong, and UAE

According to reports, Bitstamp, the cryptocurrency exchange, announced today the launch of new lending services in the new European market, Hong Kong, and the United Arab Emirates. Bitstamp collaborates with Finnish loan company Tesseract to provide a white label platform. Borrowers on the Tesseract platform must provide 100% collateral for stable currency loans. The partner uses different legal entities to separate customer loans and assets from Tesseract’s other partners.

Bitstamp launches new lending services in the crypto friendly market

Cryptocurrencies have become increasingly popular in recent years, and with their growing adoption, the need for convenient and reliable financial services in the industry has also risen. In response to this demand, Bitstamp, a leading cryptocurrency exchange, recently announced their partnership with Finnish loan company, Tesseract, to provide white-label lending services in several new markets all across the world. In this article, we will delve deeper into Bitstamp’s new lending services, their collaboration with Tesseract, and what it means for the cryptocurrency market.

The Overview of Bitstamp’s New Lending Services

According to reports, Bitstamp will be launching new lending services in Europe, Hong Kong, and the United Arab Emirates. The launch is part of Bitstamp’s continued efforts to expand its business and provide more comprehensive financial services to its customers. These new lending services will provide users with the ability to borrow stable currencies, backed by 100% collateral.

Bitstamp’s Collaboration with Tesseract

To provide a reliable and secure platform for lending services, Bitstamp has partnered with Tesseract, a Finnish loan company that specializes in blockchain technology. Tesseract will be providing a white-label platform for Bitstamp to offer lending services, while Bitstamp will be responsible for managing the loans being issued.

Collateral Requirements for Borrowers on the Tesseract Platform

To obtain a stable currency loan on the Tesseract platform, borrowers will be required to provide 100% collateral in the form of cryptocurrency assets. These collateral requirements will provide a secure platform for lending and reduce the risk of default by borrowers.

Separating Customer Loans and Assets

To ensure the safety of customer loans and assets, Tesseract uses different legal entities to separate them from other partners. This strategy will help to minimize the risk of cyberattacks and theft by keeping customer assets and loans in separate and secure locations.

What This Means for Cryptocurrency Markets

Bitstamp’s partnership with Tesseract and the launch of new lending services in Europe, Hong Kong, and the United Arab Emirates are significant developments for the cryptocurrency market. The platform will enable Bitstamp to provide more comprehensive services for their customers, while Tesseract’s expertise in the blockchain technology will help to provide a secure platform for lending. This development will also help to promote the adoption of cryptocurrencies and blockchain technology across the globe.

Conclusion

In conclusion, Bitstamp’s new lending services in Europe, Hong Kong, and the United Arab Emirates, in collaboration with Tesseract, are anticipated to provide a secure and reliable platform for cryptocurrency borrowing. They will also contribute significantly to the development of the cryptocurrency market across the world, promoting its wider adoption. The collaboration between a leading cryptocurrency exchange and a seasoned loan company in the blockchain technology sector is expected to raise the bar of cryptocurrency adoption all over the world.

FAQs

1. What is Bitstamp?
Bitstamp is a leading cryptocurrency exchange that enables customers to buy, sell, and trade cryptocurrencies.
2. What is Tesseract?
Tesseract is a Finnish loan company that specializes in blockchain technology.
3. What is the difference between stable currency loans and regular loans?
Stable currency loans are backed by currencies that maintain a stable price, while regular loans are not backed by any particular currency.