CakeDefi Launches a New "Borrow" Feature Allowing Users to Collateralize Crypto
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The new product enables users to borrow Decentralized USD (DUSD) by pledging Bitcoin (BTC), Ether (ETH), Tether (USDT), USD Coin (USDC) and DFI as collateral. Users can use a combination of these cryptocurrencies as collateral, as long as at least 50% of the collateral is DFI.
"We are excited to launch Borrow to provide users with more liquidity to invest in DeFi services while holding on to their assets. It is our goal at Cake DeFi to keep bringing such innovative services to our users," said Dr. Julian Hosp, Co-founder and CEO of Cake DeFi.
Cake DeFi is a fully transparent, highly innovative and regulated global fintech platform with over US$1 billion in customer assets.
Cake DeFi has experienced tremendous growth in 2021. A total of US$230 million were paid out to customers as rewards in 2021; US$75 million of it in the final quarter. In the near term, Cake DeFi's immediate priorities are to continue growing its customer base as it aims to reach US$10 billion in total customer assets by the end of 2022.
ABOUT CAKE DEFI
Cake DeFi is a fully transparent, highly innovative, and regulated fintech platform dedicated to providing access to decentralized financial services and applications by enabling users to generate returns from their crypto and digital...
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