NEW: TransUnion, one of the three largest credit agencies in the U.S., is teaming up with springlabs and QuadrataNetwork to share credit scores for blockchain-based loan applications without compromising consumer privacy. sndr_krisztian reports
on unsecured crypto loans. The trend highlighted the fragility of unsecured lending in the digital asset market, Walter Teng, vice president of digital assets of market research firm Fundstrat, said in a report. Teng added that credit scores for crypto borrowers could have mitigated the losses.
TransUnion’s credit scoring allows consumers to use their credit history and share their credit information in a secure way with any blockchain-based lending protocol while also helping lenders improve their decision-making and risk management, Laky explained.
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