Crypto lenders will be able to check consumers’ credit data through TransUnion, possibly allowing them to offer more favorable rates and without requiring crypto as collateral. By JamieCrawleyCD
Consumer credit reporting company TransUnion will enable consumers to give crypto lenders access to their personal credit data in a move that could greatly expand the possibilities of lending in the digital asset market.Spring Labs announced WednesdayCryptocurrency investors could now receive better interest rates when borrowing money thanks to lenders being able to judge their risk profile based on credit data.
Users register with the digital passport to obtain anti-money laundering and know-your-customer verification that can be attached to their digital wallets.
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