Sydney start-up Vield builds $35m crypto-backed loan book
A Sydney start-up convinced private credit players to tip $35 million into crypto-backed loans last year, targeting borrowers who refuse to part with their bitcoin to crack the housing market or grow a small business.
Founded by Johnny Phan and Alexander Dauphin in 2022, Vield began writing loans last year collateralised against the surging value of bitcoin and ethereum, quickly building a loan book funded by wealthy Australians and private investors.
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