Divine Research's issuance of 30,000 unsecured loans highlights the growing trend in crypto lending, particularly for underserved borrowers, as institutional interest grows.
Divine Research has issued approximately 30,000 unsecured short-term loans under $1,000 since December, utilizing iris-scanning technology for borrower verification. Targeting underbanked individuals, the loans are disbursed in USDC with interest rates of 20% to 30% and a default rate around 40%. Founder Diego Estevez emphasized the focus on everyday individuals, marking a shift in the lending landscape as institutional interest in crypto-backed loans increases.