Strike, a Bitcoin payments platform, has launched a crypto lending service allowing users to borrow funds with Bitcoin as collateral.
U.S. customers can access Bitcoin-backed loans from $75,000 to $2 million with a minimum annual percentage rate (APR) of 12% through Strike.
The Bitcoin-backed loans enable customers to access cash without selling their Bitcoin assets by collaborating with capital providers for competitive lending rates.
Strike Lending provides a 12-month loan repayment period, does not report to credit agencies, and allows users to pay in monthly installments or in full at maturation.