PRESS RELEASE. CEX.IO LOAN experiences massive institutional demand for its crypto-backed lending service, with 41% of customers requesting to borrow cash against Bitcoin, 53% against Ethereum, and 6% against DeFi tokens.
Crypto-backed lending service CEX.IO LOAN that launched in October 2020 in select global jurisdictions, has been experiencing major demand, receiving over $100 million worth of loan requests to date. While the service has been widely popular among retail investors, most of the platform’s loan requests came from institutional investors.
According to CEX.IO LOAN, such an increase in demand can be attributed to the institutionalization of the cryptocurrency industry. Institutional investors, who have cryptocurrencies in their possession, regard it as a potential collateral for borrowing funds and actively utilise it as such. The borrowed funds are then used for further investment purposes.
In addition to featuring cutting-edge security and advanced anti-fraud measures, CEX.IO Group operates a regulated service, which has been licensed as a