Amid a year of significant growth for the decentralized finance space within the crypto industry, British Virgin Islands-based crypto exchange Bitfinex has unveiled its new lending service today, called Bitfinex Borrow.
"Bitfinex Borrow is a borrowing platform," Bitfinex chief technology officer Paolo Ardoino told Cointelegraph. “This particular offering isn’t about lending out your crypto and obtaining a rate of return on it," he said. “The crypto loan is obtained via Bitfinex’s peer-to-peer lending platform, though it may consist of a pool of available credit," he explained. So essentially, crypto borrowing and loans are not directly tied to a direct and immediate opposite party.