Crypto-backed lending is growing rapidly. The amount borrowed since the industry emerged two years ago could surpass $25 billion by the year 2022.Rapid growth has sparked fears that another credit bubble could be forming because crypto lenders do not prioritize background checks on creditworthiness.While crypto lending works similar to peer-2-peer lending, some platforms like Cred have introduced add-on features to increase user experience.Lending rates still remain low for most crypto assets but are improving.Successful disruption of the credit market could play a key role in expanding the influence of the cryptocurrency market in the global financial ecosystem.
