DrawBridge Lending Now Operating in California, Issuing Bitcoin-Backed Loans in 49 States
DrawBridge Lending now offers bitcoin-backed loans at 2.5% APR to customers in California, making their digital asset lending solution accessible in 49 states.
CHICAGO, May 2, 2019 /PRNewswire/ -- DrawBridge Lending, a USD lender for cryptocurrency investors, announced today it is now servicing institutional customers in California. This marks the expansion of their lending footprint to 49 states and DC, making DrawBridge Lending one of the most widely accessible crypto-to-USD lenders in the U.S.......
"Our approval in California allows DrawBridge Lending to service a large client base in the institutional space," said Jason Urban, CEO at DrawBridge Lending. "This approval further demonstrates our commitment to keeping the highest level of compliance and providing the most affordable lending products in the US."
As a CFTC registered Commodity Trading Advisor (CTA) and Commodity Pool Operator (CPO), DrawBridge Lending services institutional clients. Since its launch this past February, DrawBridge Lending has serviced loans to cryptocurrency miners who are looking to expand their business operations or investors looking to leverage their holdings for additional investment into the market.
DrawBridge Lending offers loans tailor-made for managing market volatility and price swings, with no margin calls. Borrowers can obtain a USD loan at 2.5% APR with tenors of 1-2 months or 6 months (depending on the loan program) by pledging their Bitcoin as collateral.
"Since the beginning, we saw an opportunity to provide our customers the most cost friendly and accessible lending product, with no margin calls or recourse," said Tom Anderson, President and Chairman of the Board at DrawBridge Lending. "We're committed to keeping this our status-quo while expanding our product suite and servicing other areas in the digital asset space."
DrawBridge plans to expand internationally and is currently building out its product suite to include investment opportunities and a coin lending platform which is currently in beta-phase development.
ABOUT DRAWBRIDGE LENDING
DrawBridge Lending initiates USD loans secured by crypto assets. Operating as a CFTC regulated Commodity Trading Advisor ("CTA") and Commodity Pool Operator ("CPO"), DrawBridge Lending uses both a qualified and insured custodian & advanced risk management strategies to protect borrower assets and lender capital. Learn more about their products, company and team at drawbridgelending.com.
Contact
Name: Kevin Anderson
Phone: (312) 543-0618
Email: [email protected]
SOURCE DrawBridge Lending
Share this article