Hybrid Bank Overview: Curbing the Credit Challenge for Digital Asset Players
The cryptocurrency space is like none other. It is because it challenges the very foundation of our existing system — money. Visionaries invented cryptocurrencies to disrupt the financial system and lay a new, more secure, and decentralized foundation for it.
Today, as the cryptocurrency space evolves and reaches new levels of success and adoption, there still lie many problems that need appropriate solutions. For one, today’s credit system was developed and has evolved to only work with traditional money. And truth be told, companies or individuals dealing in digital assets don’t fit in the traditional mold — not at least from the finance point of view.
As the digital assets neither resemble fiat currencies nor the usual stocks and bonds, it is challenging for today’s credit system to assess these assets nor is it easy for them to provide instant loans.
To help companies and individuals involved in this growing space, Hybrid Bank developed a credit system that can solve the problem. Let’s dive in.
Hybrid Bank — The Credit Solution
Hybrid Bank aims to be the one-stop credit solution for everyone involved in the blockchain and cryptocurrency industry by providing an effective credit rating and crypto lending solution.
Credit Ratings
Hybrid Bank solves the lack of a central Credit Rating System for blockchain fintech companies. It aims to be a reliable credit system where crypto and blockchain companies including digital asset exchanges, crypto mining firms, and individuals dealing in cryptocurrencies can attain a credit score for themselves.
The Credit Rating System will assess the digital wallets of companies in real-time to provide a reliable and more comprehensive credit score despite the volatile nature of digital assets.
Speaking on the same, the CEO of Hybrid Bank, Kevin D. Kang, said:
“This will help crypto industry participants assess the value of their cryptocurrency holdings and attain a Credit Rating for themselves. They can then present their Crypto Credit Ratings as a proof of their creditworthiness in the process of taking loans for lower interest rates.”
Loans Without Asset Liquidation
In addition to an effective credit rating system, Hybrid Bank will also facilitate crypto lending for exchanges, miners, and individuals so they can take loans without having to liquidate their assets.
Using Hybrid Bank’s services, digital asset exchanges will be able to provide margin trading to their users by taking instant credits. They will also be able to use the loan to fund their operations and provide better services over time.
According to Kevin, mining companies, on the other hand, can also opt in for easy and instant loans through Hybrid Banks to fund their mining necessities including better mining processors, setting up new mining units, and so on.
Individuals users can also apply and get instant loans from Hybrid Bank. They will get a lot of flexibility with tenure of the loan and interest charged on it, added Kevin.
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