Australia to inaugurate country’s first crypto lending service

Even though crypto space is going through a phase of bear market, this has not dampened the industry’s enthusiasm. Bright startups like Helio Lending are banking on innovation and offering their lending services to markets in Australia.

For the first time in Australia, Helio Lending will offer crypto lending to users. Crypto lending is the latest approach where crypto holders can borrow fiat funds without the need for encashing their digital assets.

This is achieved by making use of the blockchain to record transaction and settlement data. This in turn negates any counterparty risk and fosters safety so that the assets may be used without fear.

Founder and Managing Director of Helio Lending, John O’Shea said,

“Currently there are only two or three providers globally, and we are excited to offer such an exciting service acting as a direct lender, with a quick seamless process and exceptional customer service.”

The company also says that by leveraging their services their client will have up to 50% more spending power, than if they had simply held on to their crypto assets. The MD further added, “These assets may be held overseas or Australia, and we allow the funds to come back to AUS, USD, EUR and HKD to be used by our clients. We anticipate our clients will reinvest, buy goods and services and even start their own business through unlocking these assets.”

To begin with, Helio Lending will be will be working with the top currencies such as Bitcoin, Ethereum, Litecoin and XRP. They will also work towards allowing all approved digital currencies to be used as well.

ETHlend, their Asia Pacific partner, will be looking after the crypto wallet management and liquidity clearing aspects.

Australia to inaugurate country’s first crypto lending service
Australia to inaugurate country’s first crypto lending service

Chief Executive Officier and Founder of ETHlend, Stani Kulechov said, “We are excited by the opportunity to partner with Helio Lending and already have enquires streaming in from the regional Helio opportunity, it will be great to now have a local presence to service our clients.”

This venture comes as good news to Helio since crypto usage has been growing exponentially in Australia. The country has looked forward to diversify the usage of cryptocurrency in domains like real estate.

With the highest concentration of crypto ATMs in Oceania and Asia, Australia is an open and welcoming market to crypto. A point of highlight is that crypto asset ownership was almost tripled in a single year.

It is so rewarding to witness such deals take off. However, as an intuitive user, it is your responsibility to use your funds wisely and plan for a gain.