Posted 12/18/2023, 1:54:08 AM
Blockchain Lending Soars to $582 Million as Borrowers Enjoy Lower Rates
- Blockchain-based lending has doubled in the past year to $582M currently
- Average APR for blockchain loans is 9.65%, lower than the 11.5% average personal loan rate
- Largest blockchain loan recently was $38.3M taken by Fasanara Capital at sub-7% APY
- Ethereum-based Centrifuge owns 43% of active blockchain loans at $255M
- Consumer and automotive sectors lead blockchain lending with $197.7M and $186.8M borrowed