A San Francisco-based cryptocurrency lending firm has launched its service to the public via the Ethereum blockchain. Dharma Labs, which recently raised US$7 million from the likes of Coinbase Ventures in capital funding, has unveiled its new cryptocurrency lending platform, which enables anyone in the world to borrow and lend cryptocurrency within just a few clicks. The peer-to-peer platform is governed by Dharma’s smart contracts, which specify the crypto lending terms of each agreement.

Dharma’s unique selling point is that depositors of cryptocurrency to borrowers will receive a fixed interest rate of return on any digital currency they make available. However, the interest will only be earned when the cryptocurrency is used by the borrower. Those looking to borrow can use Dharma to secure a direct line of credit against their crypto without requiring a bank account or a credit check. They can borrow in the form of Ether (ETH) or Dharma’s own cryptocurrency (DAI) at “the most affordable rates on the market”,…

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Source: https://thebitcoinnews.com/start-up-crypto-lender-dharma-opens-on-ethereum-blockchain/