As the end of the year approaches, the crypto market is still in the grips of a bear market. That has done little to dampen the enthusiasm of the industry overall. New startups are always looking to offer innovative products and solutions, and Helio Lending is doing exactly that by offering their lending services to the markets down under.
No Liquidation Required
For the first time in Australia, Helio Lending will offer crypto lending to users. Crypto lending is the latest offering where crypto holders can borrow fiat funds without the need for liquefying their digital assets. This is achieved by making use of the blockchain to record transaction and settlement data. This in turn mitigates any counterparty risk and grants immutability so that the assets may be used without fear.
With no competition in this field an excited Founder and Managing Director of Helio Lending, John O’Shea talked about the huge opportunity that has been afforded to this venture. He said,
“Currently there are only two or three providers globally, and we are excited to offer such an exciting service acting as a direct lender, with a quick seamless process and exceptional customer service.”
The company also says that by using their services their client will have up to 50% more spending power, than if they had simply held on to their crypto assets. Adding to this, the MD also discussed the varied options on offer,
“These assets may be held overseas or Australia, and we allow the funds to come back to AUS, USD, EUR and HKD to be used by our clients. We anticipate our clients will reinvest, buy goods and services and even start their own business through unlocking these assets.”
For a start, Helio Lending will be will be working with the top currencies such as Bitcoin, Ethereum, Litecoin and XRP. They will also work towards allowing all approved digital currencies to be used as well. ETHlend, their Asia Pacific partner, will be looking after the Crypto wallet management and liquidity clearing aspects.
Talking about the collaborative effort Chief Executive Officier and Founder of ETHlend, Stani Kulechov, was buoyed and said
“We are excited by the opportunity to partner with Helio Lending and already have enquires streaming in from the regional Helio opportunity, it will be great to now have a local presence to service our clients,”
In an added bit of good news for Helio, crypto use has been gathering steam in Australia, more than anywhere else at the moment. The sluggishness of the Real estate market, after a nearly 20 year boom period, has seen many look at their options. Born out of this is RealRenta and their cryptocurrency token, House Coin. With a planned launch in early 2019, RealRenta is looking to tokenize the property investment sphere, in Australia.
With the highest concentration of Crypto ATMs in Oceania and Asia, Australia is an open and welcoming market to crypto. This is further substantiated when one notes that crypto asset ownership has almost tripled in this year alone. Furthermore, when asked, more than two-thirds of the respondents were open to the idea of having crypto currencies for daily use. Their only prerequisite was the ease of use.
While many remember Australia for the Paul Hogan advert; it is much more than a land where people put “shrimps on the barbi.” The fast-growing country is the land of opportunity; will Helio be able to grab that chance, time will tell.