Divine Research Issues 30,000 Unbacked Crypto Loans at 20-30% Interest 40% Default Rate via World ID Iris Scans
Divine Research has launched a novel unsecured crypto lending initiative, issuing 30,000 USDC stablecoin loans to borrowers in underserved markets. The platform leverages World ID, a biometric verification tool developed by Sam Altman, to authenticate identities via iris scans. This approach bypasses traditional credit checks and collateral requirements, enabling rapid disbursement to individuals lacking access to conventional banking systems. Microloans, typically under $1,000, are offered at interest rates between 20% and 30%, reflecting the high-risk profile of the target demographic [1].
The initiative, operational since late 2024, has seen a reported 40% default rate by July 2025, underscoring the challenges of lending to…
