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Divine Research, a lending company based in San Francisco, has issued about 30,000 unsecured crypto loans since December 2024, according to a July 27 report by Financial Times.
These small loans, typically under $1,000 in USDC
$0.9748
, are primarily offered to individuals outside the US who lack access to traditional banking services.
Instead of requiring collateral, Divine Research uses Sam Altman’s World ID system, a tool that scans a person’s iris, to confirm each borrower’s identity and stop repeat borrowing after a default.
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The company aims to make short-term loans available to anyone with internet access. Founder Diego Estevez stated that their borrowers range from teachers to street vendors.
Divine Research’s approach is designed to reach people often left out by traditional banks. Estevez described it as “microfinance on steroids”.
Interest rates for these loans range from 20% to 30%. According to Estevez, about 40% of borrowers fail to repay their first loan, but the higher rates are meant to cover those losses. He also mentioned that users receive free World tokens when they take a loan, and those tokens can be partially recovered if the borrower fails to pay.
Divine Research’s lenders are everyday people looking to earn on their savings. Estevez said anyone can fund loans on the platform. The system is designed to ensure that even with a high number of defaults, lenders can still expect to earn a return.
Christie’s International Real Estate recently launched a new service that allows people to buy and sell homes with cryptocurrency. What did CEO Aaron Kirman say about it? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
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