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Showing results for tags 'teller protocol'.
DeFi project Teller has officially made the "first unsecured DeFi mortgage;" possible via USDC.homes, a company that partners with mortgage lenders and brokers to facilitate crypto home loans. The new owner purchased an apartment valued at $680,000 in Austin, Texas, using a $500,000 USDC stablecoin mortgage issued by Teller via the Polygon network. The platform allows cryptocurrency holders to obtain regular uncollateralised mortgages based on their credit scores. According to Ryan Berkun, Founder and CEO of Teller, it blends the best of both worlds, "This innovative mortgage loan market, built on the Teller protocol, integrates a mainstream user experience with the digital asset backend infrastructure of DeFi." https://decrypt.co/98655/ethereum-defi-project-teller-facilitates-first-uncollateralized-mortgage-loan