GDA Group, an American virtual assets company based in Toronto that specializes in capital counseling and institutional investor trading services, announced the launch of GDA Lending. The new service will provide investors with non-recourse loans in USD, BTC, ETH, EOS and XRP with a loan-to-value ratio of up to 65%.
GDA Lending joins other cryptocredit establishments such as BlockFi, Nexo and DrawBridge Lending (recently purchased through Galaxy), which offer guaranteed loans to their customers.
“Institutional investors are increasingly informed about the unique virtual assets and investment houses that rise into a fashion portfolio. We look forward to uploading GDA Lending to the GDA Group’s existing monetary product portfolio to provide transparent exposure of virtual assets,” james Godfrey said. Adviser to the GDA Group.
Cryptocurrencies are booming in 2020, as Bitcoin investors see an upward trend in the value of virtual assets and keep their investments longer than before. In fact, 60% of Bitcoin hasn’t moved a wallet in more than 12 months. they are looking for the liquidity of their portfolios and many opt for secured loans as a solution. Loans are also of specific interest to cryptominery companies, which want greater liquidity to cope with the costs of emerging appliances.
However, loans in the virtual asset area have noticed their percentage of challenges. Last month, cryptographic lender Cred filed for bankruptcy, revealing fraud. stories, such as Cred, highlight the need for strong counterparties and guarantee practices in all credit activities.
Backed by a Tier 1 security lender, GDA Lending seeks to pave a more institutional path for crypto-loan services. The company provides loans of up to $100,000,000 and will pay interest in USD, EURO or CAD.
GDA is no stranger to virtual asset space, with delight in virtual asset offerings, venture capital, and commercial services.
“GDA Group has worked tirelessly to create one of the maximum vertically incorporated portfolios of structured virtual asset products. Following this week’s announcement from the Global Fund Management division, our company offers a 360 degree policy of all primary aspects. of the virtual asset industry “. said Zach Friedman, chief operating officer of the GDA Group.
With more than $ 73 billion in next generation loans expected to enter the virtual asset lending space through 2022, corporations like GDA continue to prepare for the next wave of institutional adoption that will focus on strategic products, adding loans, loans and participation services.
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