The startup offers a cryptocurrency-backed lending platform that features an automated collateral monitoring system for loans, deposits, and withdrawals. This technology enables users to efficiently manage their digital assets while ensuring real-time oversight of their collateral value.
Funding
$25M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many cryptocurrency holders lack access to traditional lending services and struggle to generate yield on their digital assets without selling them. Existing centralized crypto platforms often lack transparency and security, creating risks for users.
Solution
CoinLoan provides a platform for users to earn interest on their crypto holdings through fixed and flexible accounts, as well as obtain crypto-backed loans. Users can deposit a variety of digital assets, including BTC, ETH, and stablecoins, to earn interest, or use their crypto as collateral to borrow funds for various needs. The platform offers a secure wallet for storing digital assets, along with an exchange feature for converting between different cryptocurrencies. CoinLoan is a regulated financial institution that complies with European and international financial regulations, and employs security measures such as insured custody and offline key storage.
Target Audience
The primary target audience includes both novice and professional cryptocurrency users seeking to earn interest on their holdings or obtain loans using their crypto assets as collateral.
Features
- Fixed interest accounts with terms offering up to 9.2% APY
- Flexible interest accounts with no lock-up period and up to 6.2% APY, with daily accruals and monthly compounding
- Crypto-backed loans with APR starting from 5.5% and loan-to-value (LTV) ratios up to 70%
- Support for 25+ digital assets including BTC, ETH, LTC, and stablecoins
- Integrated crypto exchange with 200+ currency pairs and instant execution
- Secure crypto wallet with wire transfer support for EUR and GBP
- Cold storage of crypto assets with $250 million insurance coverage
- Mobile app available for iOS and Android