<p>Bitstamp, one of the world's oldest crypto exchanges, today announced a new lending service across European markets, as well as in Hong Kong and the United Arab Emirates. </p> <p>The exchange's lending product offers<span class="TextRun SCXW175296704 BCX0" lang="EN-GB" xml:lang="EN-GB" data-contrast="auto"><span class="NormalTextRun SCXW175296704 BCX0"> daily rewards and up to 4.4% APY, with no specific lock-up period. L</span><span class="NormalTextRun SCXW175296704 BCX0">ending is available for large-cap coins like bitcoin and ether, as well as Circle's USDC and Tether's USDT. Other cryptocurrencies available include</span></span><span class="TextRun SCXW175296704 BCX0" lang="EN-GB" xml:lang="EN-GB" data-contrast="auto"><span class="NormalTextRun SCXW175296704 BCX0"> XRP, BCH, LINK, LTC, and APE. Select customers have quietly been live on the platform since March.</span></span></p> <p><span class="TextRun SCXW151038968 BCX0" lang="EN-GB" xml:lang="EN-GB" data-contrast="auto"><span class="NormalTextRun SpellingErrorV2Themed SCXW151038968 BCX0">Bitstamp has partnered with <a href="https://www.theblock.co/post/142786/tesseract-unveils-yield-platform-to-help-mid-size-crypto-firms-compete-with-binance-and-coinbase">Tesseract</a>, a Finnish lending firm that also offers a white-label platform. Borrowers on Tesseract's platform must provide 100% collateral for stablecoin loans. The partnership uses a different legal entity to keep customer loans and assets separate from Tesseract's other partners. </span></span></p> <p>The product is only available in certain European countries — including France, Ireland, Italy, and Spain among others — as well as Hong Kong and United Arab Emirates. It is not available in the U.K. or U.S.</p> <p><span data-contrast="auto">Jean-Baptiste Graftieaux, CEO of Bitstamp, said the exchange is "one of the most regulated" in crypto. The addition of a lending service to the platform will enable customers to "benefit from the evolution of crypto in a reliable and secure way," he added. </span></p> <p><span data-contrast="auto">"We're re-building crypto lending from the ground up — shifting from the often opaque and mysterious world of crypto lending to being radically transparent and accessible."</span></p> <p><span class="NormalTextRun SCXW222239170 BCX0">Bitstamp will run monthly lending performance reports as part of a push for more accessible lending. The reports</span><span class="NormalTextRun SCXW222239170 BCX0"> will </span><span class="NormalTextRun SCXW222239170 BCX0">provide</span><span class="NormalTextRun SCXW222239170 BCX0"> users with data and insights into product performance and risk. M</span><span class="NormalTextRun SCXW222239170 BCX0">etrics include lending portfolio performance and concentration, borrower risk profiles and collateral levels. </span></p> <p>The exchange's move into lending comes ten months after crypto lender Celsius's collapse. The firm has since filed for bankruptcy, with CEO and co-founder Alex Mashinsky stepping down. In the intervening period, the crypto lending sector has suffered a host of casualties, with BlockFi filing Chapter 11 bankruptcy protection in November following the collapse of FTX.</p> <p>Unsurprisingly, the regulatory environment in the U.S. has harshened. European markets continue to be seen as more welcoming by contrast, however, as <a href="https://www.theblock.co/post/224692/europe-crypto-vc">noted</a> by RockawayX's Chief Growth Officer Samantha Bohbot on <em>The Scoop</em> this week. </p> <p><img class="alignnone size-full wp-image-225175" src="https://www.tbstat.com/wp/uploads/2023/04/Screenshot-2023-04-06-at-05.23.03.png" alt="" width="2104" height="788" /></p> <p>Bitstamp's spot market volume fell over the last twelve months to $6.34 billion in March from $7.45 billion a year ago. At its peak in May 2021, the exchange clocked $39 billion in spot market volume, according to data from The Block Research.</p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>