Bitget debut in the lending business with the introduction of Crypto Loans

• Bitget introduced its native “Crypto Loans” product on Tuesday.
• It is expected that digital lending will increase with an annual growth rate of 20.5 %.
• Singapore and Thailand have recently banned crypto loan allocation.

Bitget - a trading platform for digital assets based on the Seychelles - started on Tuesday “Crypto Loans” to make his debut in the credit area.

we know the following so far

The new product is aimed particularly at users who are not completely satisfied with traditional credit institutions. According to Gracy Chen - the managing director of Bitget:

users now have the option of setting less requested coins and thus receiving loans in liquid assets for investment purposes.

Every loan according to the press release is linked to a specific interest rate. However, Bitget has not announced which cryptocurrencies are suitable for cryptocredits.

The message comes only a few days after Bitget officially entered Turkey with a new website as part of its commitment to a global expansion (learn more).

Digital lending is enjoying a strong demand

It is expected that digital lending between 2023 and 2032 is growing with an average annual rate of 20.5 % after it has reached the $ 8.5 billion brand last year, which indicates a strong demand. Chen also said in the press release today:

The new product of Bitget underlines the flexibility of using secured currencies and improves capital use. Our flexible credit and repayment mechanism responds to the needs of all users.

The leading platform for crypto derivatives enters the crypto loan at a time when several countries, including Singapore and Thailand have banned crypto companies.

whether the new service will be available in the USA did not make Bitget in its press release.