Delio starts cryptocurrency security loan business

On July 9th, Delio revealed that it has establisehd a subsidiary company called Delifunding to run its own crypto-based security loan services.

Delifunding offers loans for those who use Delio (DLO), Bitcoin (BTC), and Ethereum (ETH) as security.
According to Delio, the fund scale of Delifunding worth 50 billion WON (approx. 43 million USD) now, expects it to become 100 billion by the end of this year. It will reach out to the United States, Japan, Europe and all other Asian countries.

Delio establishes Delifunding to start its own cryptocrrency security loan business

Delio has essentially acquired financial, deposit loan and brokerage licenses that authorize Delifunding’s business.
CEO of Delio, James Jung, claims “Delifunding will provide perks like interest earnings, currency stability and so on — some revenue will be used to reinvest in Delio tokens and Dapps for additional value creation”.
CEO of Delifunding, Namjun Kim, claims “Cryptocurrency security loan market is growing rapidly; Delifunding’s crypto-financing system with its advanced security loan service, credibility, and safety will also experience rapid growth”.

[Originally written in ZDNet Korea: 델리오, 암호화폐 담보 대출 사업 진출 by Reporter Im Yukyeong ([email protected]) July 09, 2019 http://www.zdnet.co.kr/view/?no=20190709094601]

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