Private banks are even more risk-averse when granting a loan. In Brazil, the largest private bank, Itau, offers personal loans with an annual interest rate that can go up to 172.85%, according to its website. In Argentina, the annual interest rate offered by the largest private player, Banco Santander, can reach 230%.
Crypto Loans Are Booming in Latin America Amid Runaway Bank Rates and Inflation
SmartFi is the latest entrant into the growing market for crypto-backed lending platforms, which have emerged as a popular way to earn interest on digital assets.
My experience of getting a crypto loan from SmartFi is just amazing and better than the traditional banks.
SmartFi uses the lending and borrowing process to create a “liquidity pool” that allows lenders to earn interest on their digital assets, while borrowers can take out loans with their digital assets as collateral