The Australian company began to issue loans secured by cryptocurrency

Helio from Melbourne began issuing loans secured by cryptocurrencies, Bitcoin.com reports.

The service allows Helio clients to borrow from 1000 Australian dollars ($ 720) on the security of cryptocurrency assets . At the moment, the company accepts Bitcoin, Ether, Litecoin and Ripple.

Helio client crypto assets are stored in a secure wallet, company representatives say. In case of default, the company may sell cryptocurrency to cover losses.

Helio has a credit license (ACL) issued by the Australian Securities and Investments Commission (ASIC). As the company's founder, John O'Shea, stated, Helio was the first licensed organization in Australia to launch this service. According to him, the country has a developed cryptocurrency market, however, suppliers who want to provide loans secured by digital assets are not enough.

Recall that in June, the Japanese corporation Abic Corporation began to issue loans secured with Bitcoin.

In July, Mike Novograz's cryptobank invested $ 52.5 million in the BlockFi firm, which operates in the lending market, provided by cryptocurrency assets.

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