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Centralized Finance or CeFi lenders are organisations that provide loans, mostly over-collateralized against the cryptos held by the borrowers.
CeFi lenders make it possible to borrow money against crypto holdings, the same way one would utilise traditional assets as collateral to apply for a bank loan.
The total CeFi lending currently, as on June 2022, across various lenders, is over USD 25B and is growing at a very healthy rate of xx%.
The CeFi lender that Cion Digital today brings to the marketplace is SALT Lending and several more are in the pipeline. The platform enables two ways to borrow:
- one directly by the end consumer of the loan
- and the other as a point of sale application wherein the merchant applies for the loan on behalf of the customer.