The Ukraine pawnshops offer secured loans cryptocurrency

The Ukraine pawnshops offer secured loans cryptocurrency

Largest network of pawnshops in Ukraine launches a new service — the provision of loans secured cryptocurrency. Loans can be issued in more than 300 branches.

Representatives established in November 1992, Skarbnytsi claim that she is “the first and largest private network of pawnshops in Kiev and in Ukraine.” According to the official website, the company has “millions of customers”, 1200 employees in more than 300 branches, corresponding to the “highest standards on the market of non-Bank loans.”

Last week skarbnitsya announced that in cooperation with its partners, the company will begin to offer loans backed cryptocurrency. Head of marketing Ivan Ipatov said:

“The implementation of this project due to the rapid development of cryptocurrency and blockchain in the world. Our clients will be able to use the money and, at the same time, receive income from the growth rate of the cryptocurrency in the future”

In Skarbnytsi said that made the process of obtaining such loans “as simple as possible … without unnecessary formalities”.

The company States that it will determine “the period and the loan amount is the based on the type and amount of cryptocurrency” used as security. For each contract their IT system will automatically take into account the number of cryptocurrency and its price.

“This means that in the event of a price increase may increase the loan amount. In case of a fall [in price] the borrower has sufficient time for decision-making on the future of their assets.”

The owners of cryptocurrencies can obtain hryvnia loans for up to 31 days with the right of prolongation (extension). Also, the company representatives emphasized the important point: once the debt is paid off on the loan, the entire amount of the cryptocurrency, which was transferred as security, refundable to the borrower in full. In addition, skarbnitsya stated that there will be no “additional fees and hidden fees.”

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