Bitcoin-backed lender Vield finalising $50m credit line for crypto loans — Capital Brief
Crypto-backed loan provider Vield is finalising access to a credit warehouse facility worth up to $50 million from a traditional debt provider after securing a tax office ruling the company hopes will reassure potential customers and drive demand.
Vield is finalising the term sheet and legal documentation for what head of business development Chantra Hang told Capital Brief will be “the first warehouse facility in Australia that’s backing crypto-backed loans”. He declined to name the lender.
As of late-December, Vield had issued more than $60 million of loans to more than a thousand customers, which Hang believes makes it the “largest [crypto-backed] lender in Australia by far”.
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