ICYMI: Digital collateral “changes everything,” says Abra CEO Bill Barhydt
As the crypto market matures, owners of “pristine” digital assets will increasingly be able to use their holdings as collateral for an array of financial services, according to Bill Barhydt, CEO of Abra.last September led by IGNIA and Blockchain Capital.has no impact on crypto’s disruptive potential, and how a new wave of crypto-backed financial products promises to unlock more utility for long-term holders.
While Abra is “not financing homes yet,” allowing long-term crypto holders to use their digital assets as collateral for down payments on property is a sign of maturity for the asset class, according to Barhydt. If crypto can become pristine digital collateral like Barhydt imagines, he believes the implications will be felt around the world:
“The banking system knows that I have this much bitcoin, it lends me this amount of money to complete my payments, and that's debited later — that's a much more efficient way to process credit transactions in countries where there is no credit scoring system, which is most countries, so having a kind of digital collateral changes everything.”The importance of research before investing
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