Unsecured Lending is becoming a crowded game

For today’s quick take, we’re looking at DeFi lending. Specifically, unsecured loans in DeFi.

The unsecured lending space in decentralized finance is heating up with one new player. Ribbon Finance yesterday launched an offering called Lend that allows institutions to borrow crypto without putting up collateral.

These institutions are borrowing from retail DeFi users, meaning anyone can start earning yield on their stablecoins by lending them out to the likes of Wintermute.