Sydney-based start-up Vield has built a $35 million crypto-backed loan book in under two years, targeting borrowers who want credit without liquidating their cryptocurrency holdings. Founded by Johnny Phan and Alexander Dauphin in 2022, Vield offers loans collateralized against Bitcoin and Ethereum, backed by wealthy Australians and private investors.
Promising annual returns of 9-13% to lenders, Vield has maintained zero defaults. Borrowers, typically males in their 30s, use loans averaging $120,000 for weddings, property purchases, and business ventures. The firm’s approach requires borrowers to provide collateral worth double the loan amount to mitigate cryptocurrency price volatility. Holding an Australian credit license, Vield joins other Sydney-based crypto lenders like Block Earner in leveraging the growing mainstream acceptance of digital assets.
Read the full story on the Australian Financial Review to discover how Vield is transforming crypto lending in Sydney.
