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So far this year, private loans based on blockchain have reached $582 million, doubling from last year

So far this year, private loans based on blockchain have reached $582 million, doubling from last year

2023/12/18 02:47

According to Cointelegraph, blockchain-based loans are regaining momentum this year, with the value of active tokenized private loans currently reaching $582 million, a 128% increase from a year ago. Data from RWA.xyz shows that it is still far from the peak of $1.5 billion on June 15, 2022. This recovery may indicate that in the recent interest rate hike situation, people seeking loans are looking for traditional financial alternatives based on blockchain.

According to a report by NerdWallet on December 1st, the current average interest rate for blockchain-based credit agreements is 9.64%, while small business bank loan rates offered by financiers range between 5.75% and 11.91%. The amount of money lent out is also significant; RWA.xyz tracked $4.5 billion in blockchain loans across 1804 transactions, meaning an average loan amount of approximately $2.5 million.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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