That's the thesis of Dharma Labs, which built the Dharma protocol for decentralized lending businesses.
Its first product, Dharma Lever, is in a closed alpha release now, enabling loans for traders and large crypto holders.
Now the startup has secured $7 million to build out the product in a round led by Green Visor Capital, a fintech-focused venture capital firm.
"In the same way that Uber made it both easy and cheap to get a ride from anywhere in the world, we believe Dharma Lever will make accessing margin lending easy and cheap for anyone in the world."
Dharma Lever's website promises a few advantages over the existing solutions for credit in crypto, a service that is expected to be primarily used for traders to make investments on margin.
Dharma Lever also promises better loan rates over those offered on exchanges.
"Without a central point of failure, Dharma's financial services simply 'can't be evil,'" the company said, with a wink toward Google.
"In an industry where economies are natively digital, we believe Dharma's technology will become a necessary piece of infrastructure for future growth."
"Dharma's lending product makes it easy for developers and people to create loans that are trustless and managed on-chain. We view companies like Dharma, and their Lever product, as a sign that the crypto ecosystem is maturing, and an important step on the path to a more open financial system."
Noting that Hollander, Dharma's founder, is a former Coinbase engineering intern, Choi added, "We're proud to support our alumni as they progress in their crypto careers and make new and novel contributions to crypto."
Dharma Labs Raises $7 Million From Green Visor, Coinbase and Polychain
Publicado en Feb 5, 2019
by Coindesk | Publicado en Coinage
Coinage
Noticias recientes
Ver todo
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.