Teller Finance Introduces DeFi-Native Lending Market In Singapore

A decentralized and unsecured lending market powered by the DeFi protocol called Teller Finance has been launched in Singapore to assist Singaporean consumers in obtaining funds for various expenses.

This service, called SG Loans, was developed in partnership with Signum Capital to allow individuals to obtain personal unsecured loans without involving a bank or traditional lender. There are multiple loan options available through SG Loans, ranging from $500 to $6,000, and they are all provided in USDC.

“Teller is a fantastic example of using TradFi data to enhance zero or under collateralized lending on-chain,” Signum Capital Partner YY Lai said.

According to Teller Finance CEO and founder Ryan Berkun, this will be the first time individuals can use digital assets to fund personal loans in an emerging market.

The company is currently expanding into mortgages, auto loans, and other financial products in addition to personal loans. “In the spring and summer, we anticipate launching some pilots that we’ve been working on behind the scenes,” Teller Finance CEO added.