Divine issues are 30 kilos of coded loans using the global Sam Altmann identifier star-news.press/wp

Divine research in San Francisco has released about 30,000 short-term encryption loans since December, using the IRIS-Scanning World ID from Openai to check borrowers.

Divine offers loans less than $ 1,000 in Stablecoin USDC (USDC), especially for abroad borrowers who tell traditional financing. World ID is used to ensure that users cannot open multiple accounts after backwardness.

“We are lending to intermediate people like high school teachers, fruit sellers … Basically, anyone with access to the Internet can access our money.” He told the Financial Times. “This is the smaller financing for steroids.”

Interest rates range from 20 % to 30 %, with the rate of backwardness for the payment of the first loans of about 40 %. “High interest rates compensate for these losses,” said Estevies.

Related to: Fees, warranty giving the edge edge as tradfi, encryption loans

Investors every day can win by financing highly dangerous encryption loans

Esteviz said that the lenders of God are members of every day looking for solid returns. “Anyone can provide liquidity. We have designed the system so that after calculating the virtual prices and the rates (interest) offered, service providers will always make a profit.”

Divine is part of an increasing group of highly dangerous encryption lenders who benefit from the momentum of renewable market and political pioneers, including support provided by former US President Donald Trump.

Another startup, 3JANE, has recently raised $ 5.2 million from Paradigm, and provides non -controversial credit lines on Ethereum. Unlike divine, 3jane requires “verified evidence” of assets or income, but there is no guarantee.

3JANE plans to provide artificial intelligence agents who follow the rules of lending automatically, with the aim of lowering prices with the imposition of payment. The backward loans are sold on its platform for American debt collectors.

Other players such as Wildcat meet the needs of market makers and trading companies, and they provide hidden loans with customizable terms. According to the Wildcat Evxy Gaevoy Counselor, “In the event of default, lenders coordinate directly with each other to search for asylum.”

Related to: Fintech companies will move to Defi Linding within 3 years

Endowments for tradition traction

Endowment is still a small slice of the encryption market but attracts the increasing attention as the founding players restore the space. Last week, reports revealed that JPMorgan Chase is looking into coded loans, and plans to lend directly against encryption assets such as Bitcoin (BTC) and ETHER (ETH).

However, the shadow of 2022 waving on the horizon, when the main encryption lender like Celsius and Genesis collapsed. CEOSIUUS Alex Mashinsky CEO sentenced to 12 years imprisonment for fraud, and the Genesis has settled a billion dollar lawsuit.

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