Brazil's top crypto exchange Mercado Bitcoin launches cryptocurrency mortgage loans

One of Brazil's largest cryptocurrency exchanges, Mercado Bitcoin, announced the launch of a loan product that uses cryptocurrency as collateral and pays users in local currency. This is the company's first product of its kind and it obtained a payment institution license from the central bank last year. To avoid high risks related to clearing, Mercado Bitcoin will limit loans to 30% of the exchange users' holdings. The exchange holds over $900 million worth of cryptocurrency assets, meaning it has over $300 million in lending capacity. (Bitcoin.com)