Express
Babel Finance Is Letting Crypto Mining Firms Use Machines as Loan Collateral
Summary: Crypto financial service provider Babel Finance is letting bitcoin mining firms put up their machines as loan collateral so the lender can offer them better terms. The loan-to-value ratio (LTV) for these loans is 30%, in part because Babel keeps the freshly mined crypto until the borrower pays back the loan. “For miners, the biggest asset ...
Crypto financial service provider Babel Finance is letting bitcoin mining firms put up their machines as loan collateral so the lender can offer them better terms. The loan-to-value ratio (LTV) for these loans is 30%, in part because Babel keeps the freshly mined crypto until the borrower pays back the loan. “For miners, the biggest asset they have is their machines,” said Lei Tong, Babel’s managing director of financial services.
By Amy Liu
Tags: Babel Finance,Crypto Mining,Loan Collateral,Machines
Link: Babel Finance Is Letting Crypto Mining Firms Use Machines as Loan Collateral [Copy]
