Fintech offers real loan with guarantee in Bitcoin regulated by the Central Bank

Rispar offers credit in Brazilian Reais for investors who have balance in cryptomeda.

Brazilian investors can already use Bitcoin as a credit guarantee in Brazilian currency through Fintech Rispar, a brand that is part of QR Capital’s portfolio. Recently approved by the Central Bank of Brazil, Rispar offers credit in Reais with guarantee in cryptomoedas.

Rispar is the first Brazilian fintech to offer this type of credit in a regulated manner to Bitcoin investors. The announcement published this Monday (16) on Linkedin by the founder and CEO of the company, Rafael Izidoro.

According to Rafael Izidoro, „Bitcoin can transform the scenario“ of loans in Brazil due to the high rates practiced by the financial market. In the case of the loan with guarantee in cryptomoedas, the interest rate charged will be from 0.99% per month.

Fernando Carvalho, CEO of QR Capital, tells about the only 100% crypto regulated manager in Brazil

Bitcoin as credit guarantee

Platforms that use cryptomoeda as collateral for loan offers have gained market attention with Decentralized Finance (DeFi). However, Rispar is the first fintech in Brazil to offer this modality in the regulated market.

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Through Rispar, the user deposits the balance in Bitcoin and receives in reais the amount of the loan requested. Until then, Brazilian users counted only on systems that used the US dollar, as the CEO and creator of fintech says. Still according to the entrepreneur:

„The current solutions are in dollar or ‚dollarized‘ stablecoins, which is terrible for the Brazilian, because our currency is in constant devaluation, and to create a debt in dollar is a terrible idea in the current scenario“.

Fintech authorized by the Central Bank

Rispar is part of the portfolio of QR Capital, a Brazilian holding company that also counts on other regulated initiatives, such as QR Asset, a Brazilian management company regulated by CVM that offers 100% crypto in its funds.

And Rispar also has the backing of the Brazilian Central Bank. For Rafael, a regulated Bitcoin collateralized loan product can offer the credibility that cryptomaps often lack.

„I think it’s important to stress that the operation should be regulated by the Central Bank, because that brings security to the platform.

Today is a historic day for QR Capital.

As the Bull Market returns to Bitcoin, we announced on Friday that a disruptive solution, regulated by the Central Bank and not related to PIX, would be launched today.

And it is already among us. Rispar, welcome to the team.
– QR Capital (@qrcapital) November 16, 2020


DeFi products and crypto secured loan platforms are common in the cryptomeda market. But Rispar’s product is also a novelty in relation to the platform’s target audience.

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According to Fintech’s CEO and founder, DeFi clients use loans to invest in the financial market. On the other hand, Rispar’s proposal is to offer loans to the ordinary investor, who needs money for „the day to day“.

„The DeFi public is a user who usually takes out loans to make complex operations in decentralized exchange for example.

The public we are ‚attacking‘ is the user of Brazilian cryptomeda, who needs BRL on a daily basis, either to finance a house, vehicle, travel or even make more structured operations in national exchanges“.

As with the other crypto secured loan platforms, Rispar will have a credit offer limit according to the value offered by the user in Bitcoin.

Therefore, Rispar’s Loan To Value (LTV) must be 60% of the total Bitcoin value that the user has. That is, if the investor deposits R$ 1,000 in Bitcoin, he can take a loan of R$ 600.

„Today we have a risk model that softens this situation. We offer an LTV (Loan to Value) of up to 60% of the value of the asset at the time of contracting“.

The LTV can still be modified, in case the value of the Bitcoin suffers a great devaluation right after the loan request. In this case, the user may have to offer „a guarantee reinforcement“, recalls Rispar’s CEO and creator.

„This LTV needs to be kept at a stable level, that is, up to 70%. In case the price falls to this point, we request a reinforcement of the guarantee to the borrower, or reduction of the balance due, in order to return the LTV to a safe level“.