Jack Mallers Says Strike's Bitcoin-Backed Loans Will Offer Single-Digit Rates

Jack Mallers, CEO of Strike, announced that the firm's new Bitcoin-backed lending service will offer single-digit interest rates. Mallers also revealed that the minimum deposit for a loan would be $10,000 and that the firm would offer loans of up to $1 billion.

He also emphasized that the lending service keeps customers' deposited BTC collateral in a wallet and does not rehypothecate the funds, meaning they are not used by the firm for other purposes.

This new lending service aims to make borrowing against Bitcoin more accessible and competitive. Maller also stated that Strike currently holds 1,500 Bitcoin and plans to expand its lending operations to Europe, the UK, Latin America, and Africa. Mallers emphasized Bitcoin as "the best collateral known to man," highlighting the company's confidence in the cryptocurrency's value and utility as loan collateral.

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