Place/Date: Hong Kong - February 3rd, 2020 at 5:39 pm UTC · 2 min read
Contact: Dudley, Source: PawnHub
Hong Kong-based crypto lending firm PawnHub.io is the first company of its type to obtain a license from the Government of Hong Kong. The firm will partner with a leading US-based cryptocurrency custodian, to provide insurance coverage for clients’ Bitcoin assets of up to $100 million USD anywhere in the world.
Crypto lending is fast becoming an integral part of the crypto ecosystem with PawnHub being the first regulated crypto lending firm to be based in Asia; home to some of the worlds biggest cryptocurrency nations, such as South Korea, Japan, China, Hong Kong and Singapore.
Cryptocurrencies have been around for less than a decade, and major financial instruments that are commonplace with fiat, such as loans and bonds, are just getting started in the cryptocurrency economy.
Statistics that support the rapid growth of the crypto lending industry are staggering. The world’s largest asset classes, (the global stock market and residential real estate) are collectively worth an estimated $217 trillion, with global debt at $244 trillion, a debt-to-asset ratio of 80%.
Cryptocurrencies on the contrary are under-leveraged. Cryptocurrencies have an estimated value of $200 billion, with a debt-to-asset ratio of only 2%. There is huge growth potential in the crypto lending landscape in the coming future.
The innovative business model of innovative business model of PawnHub brings to the Bitcoin community the best of both worlds, by allowing them to retain ownership of their crypto assets while having immediate access to liquidity. Bitcoin is divisible, fungible, often instantly transferrable, with users able to use the loans to diversify into other assets such as real estate, and automobiles.
With a unique position as the pioneer crypto lender in Asia, and as the first crypto lender to be fully licensed in Hong Kong, PawnHub is well positioned to serve the evolving crypto space. PawnHub has streamlined its loan processes to be simple and transparent when it comes to fees.
Its unique and innovative business proposition combined with its reputation as the first licensed crypto lender in its region, makes PawnHub one of the most trustworthy, and viable options for lenders to leverage their bitcoin for improved liquidity.
Disclaimer PawnHub is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.