Huobi Tech Launches Crypto Lending Services in Hong Kong

Huobi Tech is introducing crypto lending for institutional investors in Hong Kong, according to a company press release shared with CoinDesk.

• The loans will range from $10,000 to $100 million in USDT and other currencies, and will carry an 8.8% fixed-term annual percentage rate, a company representative told CoinDesk via email.
• The Hong Kong-listed company is affiliated with crypto exchange Huobi Global through a common co-founder, Leon Li, but is a separate legal entity.
• The loans will be provided through Huobi Brokerage, Huobi Tech’s digital asset brokerage platform. Customers can use crypto as collateral, and the loan terms will range from three months to two years, the company said.
• Exchanges licensed by Hong Kong’s Securities and Futures Commission can provide services only to professional investors, meaning those with over HK$8 million ($1 million) in their portfolio.