LQD Business Finance Launches Development of Bitcoin Business Lending Platform

CHICAGO, Feb. 19, 2021 /PRNewswire/ — LQD Business Finance, a leading tech-enabled alternative lender, launches the development of the world’s first Bitcoin business lending platform. This cutting-edge platform will make LQD Business Finance the first company to use Bitcoin as currency for commercial loans.

Chicago-based commercial lender launches the development of first-ever loan service with Bitcoin as currency

While Bitcoin can be used as collateral to obtain a loan currently, the company’s platform will be the first to use Bitcoin as a lending currency. LQD Business Finance’s platform will achieve this goal in two key ways.

First, LQD Business Finance will build upon the Provenance blockchain to make the process of documenting and packaging loans more efficient. “Bringing increased efficiency and accuracy to commercial lending at the core of LQD’s DNA. Adding a blockchain to our existing tech-stack enables us to better achieve that goal,” says LQD CEO George Souri.  

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China calls on banks to give up US$212 billion in profits to finance cheap business lending

China’s government is reaching beyond its monetary policy tool box to free up capital and direct funds towards the nation’s cash-starved businesses to help the economy claw its way out of its worst slump in four decades.

The government has called on banks to sacrifice as much as 1.5 trillion yuan (US$212 billion) in profits this year to finance cheap loans, cut fees, defer loan repayments and grant more unsecured loans to help small businesses survive the downturn caused by the coronavirus lockdown.

Separately, the State Council, China’s cabinet, signalled late on Wednesday that it would cut the amount of reserves banks are required to hold at the central bank, freeing up more money to spur lending.

“We are guiding the market to lower lending rates through interest-rate reform,” Yi Gang, the governor of the People’s Bank of China (PBOC), told the Lujiazui Forum on Thursday, confirming the move was

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