The Ukrainian network of pawnshops “Skarbnytsia” will provide loans secured by cryptocurrency

Representatives of the network published a press release stating that it will soon begin lending secured by digital currency.

The document states that loans will be issued in hryvnia for a period of up to 31 calendar days with the right to prolongation. As soon as the borrower repays the loan debt, the entire amount in cryptocurrency that he left as collateral is returned in full. The procedure is completely transparent, with a 100% guarantee of the authenticity of the transaction

In addition, the press release states that company representatives will pay special attention to changes in the value of cryptocurrency. This means that if the price of digital currency increases, the loan amount may increase, which will be the difference between the old and new prices. 

Ivan Ipatov, head of the marketing department of the Skarbnitsa company, believes that this decision was made for the maximum benefit of users, since they will be able to receive income from the cryptocurrency rate in the future.

“Today, new economic challenges dictate the need to expand the range of services, going beyond the scope of classic pawnshop loans. Crypto lending is quite new, large-scale and interesting both for us and for our potential clients. This is really profitable: you can get free money by putting it into circulation and at the same time retain ownership of the same bitcoin,” said Mikhail Ignatenko, head of the innovation department of the Skarbnitsa pawnshop network.

Skarbnitsa is one of the largest pawnshop networks in Ukraine, which was founded in 1992. At the moment, there are more than 300 branches of the network.

According to https://www.skarb.com.ua