Founder: Nicolas Burtey
Date Founded: September 2019
Location of Headquarters: United States
Number of Employees: 11
Website: https://www.galoy.io/
Public or Private? Private
Last week, Galoy launched Lana, software that enables banks to accept bitcoin as collateral for loans.
Lana helps community and challenger banks (the banks with which Galoy is looking to work) to offer bitcoin-backed loans to various types of customers.
“Some banks might want to use it to sell to retail, and some might want to use it to sell commercial customers or high-net-worth individuals,” Burtey told Bitcoin Magazine.
In offering such loans to a wide array of customers, Burtey believes that the high cost of borrowing currently associated with such products will come down.
“Today’s interest rates are 12% to 15% if you want to get a loan using your bitcoin as collateral,” said Burtey.
“The rates are high because there are so few financial institutions offering this type of product. We see
We współpracy z: https://bitcoinmagazine.com/business/galoy-launches-bitcoin-backed-loan-software-sets-groundwork-for-open-source-banking
