Bitcoin’s appeal grows as more investment platforms facilitate dollar loans backed by cryptocurrencies

Article summary

More investment firms are giving bitcoin investors an extra avenue to raise cash from their digital assets by accepting cryptocurrencies as collateral for US dollar loans for a fee. The service could appeal to investors with a bearish view on the US currency, chief executive Richard Byworth said. “An investor trading crypto-derivatives on our platform can borrow US dollar from us against bitcoin, which is put into our custody facility as collateral,” Byworth said in Hong Kong. […] Photo: K. Y. Cheng alt=Nasdaq-listed Diginex chief executive Richard Byworth sees multiple use cases for borrowing against bitcoin. […] Diginex also allows traders to borrow bitcoin for short-selling purposes as part of a hedging strategy.

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