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Cryptocurrency - Galaxy Galaxy is funding a new digital lending project

2019-08-08 02:33 pm | Resource: News Section | No Views : 16

Cryptocurrency - Galaxy Galaxy is funding a new digital lending project Digital lender DrawBridge Lending (DBL) has announced that it has received funding from CryptocurrencyGalaxy Galaxy, a press release said Thursday, August 8.
DrawBridge, in a press release published on Thursday, said it had received funding from Galaxy Digital, further enhancing DBL's lending and investment capabilities in digital currency.
In addition, it was reported that the two companies jointly plan to develop a co-branded special-purpose financing facility to provide structured financing against the Cryptocurrency that is occupied in institutions.
Michael Novogratz, CEO and Founder of Galaxy Digital, commented on the development:
“The process of institutionalizing digital assets is still relatively young despite the growing momentum and interest from a number of respected companies and industry players. We look forward to the future, recognizing the usefulness of aligning ourselves with smart and innovative strategic partners who know how to effectively implement Institutional area. The team at DBL fits the bill in this regard. "
According to the report released today, DBL is a licensed lender capable of providing commercial loans in 49 US states, and Washington is a registered commodity operator and commodity trading consultant with the National Futures Association.
Christopher Ferraro, president of Galaxy Digital, was quoted as saying:
"Investors are fully open to the idea of ​​a new asset class being formed."
Earlier in the day, a digital currency lender (and DBL rival) in San Francisco, Dharma, decided to stop new deposits and loans on its program.
On the other hand, Cryptocurrency markets in general, continue to a large state of rise in prices, which began since the beginning of last April of this year, contributed to the rise of the market significantly, and the return of investments back to the market, which suffered from large declines and heavy losses for more Of a year.
Cryptocurrency has also become the focus of many big companies, such as Facebook, as well as many governments that want to issue their own currency to escape the recession in traditional money in general.

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