Uncollateralized DeFi mortgage taken out on Austin condo via Teller
An Austin resident is a proud homeowner after securing a loan denominated in USDC stablecoin over the Polygon network by using their credit score. A new homeowner has bought an apartment in Austin, Texas through a program that allows crypto holders to take out traditional uncollateralized mortgages based on their credit scores.The USDC.homes crypto mortgages platform issued its first crypto loan to an Austin resident who bought a $680,000 condo with a $500,000 loan issued in USD Coin (USDC) stablecoin over the Polygon (MATIC) network. This new platform combines practices from traditional....
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Truefi, an uncollateralized loan platform, has raised $12.5 million from three important investors. The token sale was led by Blocktower, a New York-based cryptocurrency investment firm. Other important investors were Alameda Research — owned by Sam Bankman-Fried, founder of FTX — and A16z. Truefi is one of the few uncollateralized defi-based lending protocols in the industry. Truefi Raises $12.5 Million Truefi has raised $12.5 million dollars to expand its operations and its offer of lending products. The investment was made through the purchase of its native token truefi....
Michigan-based United Wholesale Mortgage (UWM) said it plans to accept crypto for payments before 2021 ends. This would make it the first major U.S mortgage lender to offer this service. The crypto industry has arguably struggled to find its feet as far as mainstream use cases are concerned. That by no means reflects the significant […]
Participants of an NFT token sale will be able to use the lending protocol in its early release. Teller Finance, a project building an undercollateralized lending protocol for decentralized finance, has announced the launch of its mainnet alpha stage. This will enable certain users to obtain credit without being required to post collateral, which is the case for most other DeFi lending protocols.The Teller alpha will be accessible only to holders of a special nonfungible token, called the Fortune Teller NFT. The tokens will be sold on Thursday, with half of the proceeds of the sale going....
Polygon allows Teller Finance to port its solutions onto a scalable network, thereby overcoming many of the current challenges associated with Ethereum. Teller Finance, a non-collateral lending protocol for the DeFi market, has officially deployed its mainnet on Polygon, marking a significant milestone in its quest to offer scalable, user-friendly solutions. With the launch of Teller’s Polygon mainnet, users can begin making deposits and funding liquidity pools immediately, the company disclosed Tuesday. The Teller protocol continues to be available for use on the Ethereum (ETH) mainnet.....
Talk to the average person about bitcoin and the response is usually the same. How on earth do I get Bitcoin? Well, co-founders Chris Yim and Kyle Powers are seeking to help connect the common man to access Bitcoins through their Liberty Teller organization. Having set up America's first Bitcoin ATM in South Station in Boston, MA earlier this year, Yim and Powers set up a second one Monday in Harvard Square. How does it work? The newly setup BTC kiosk in Harvard Square. Photo by the Liberty Teller Twitter Page. These kiosks are surprisingly simple to use. The Liberty Teller site explains....