Stablecoin issuer Tether (USDT) has silently resumed its secured lending services less than a year after publicly announcing that it would remove it this year.
Using Tether’s quarterly financial update, the Wall Street Journal reported that the stablecoin’s issuer loan assets increased to $5.5 billion as of June 30 from the $5.3 billion recorded in the previous quarter. A Tether spokesperson reportedly said the increase was due to a “few short-term loan requests from clients with whom [the company] have cultivated longstanding relationships.”
The lending services involve Tether issuing loans denominated in its USDT tokens to borrowers. Market observers have raised concerns about this practice as there is no certainty that the borrowers would pay back or that the stablecoin issuer could be able to sell the loans immediately. Additionally, Tether has failed to provide adequate transparency on the kind of collateral the borrowers provide.
Last year, crypto lending service provider
We współpracy z: https://cryptoslate.com/tether-brushes-off-concerns-over-restarting-controversial-usdt-short-term-loan-services/
