Crypto
Arc Unveils Borrow Kit and Onramp Services for Apps
Arc has introduced two new financial services for applications on its platform: Borrow Kit and Onramp.
Borrow Kit allows apps to offer loans backed by a stablecoin, specifically cirBTC. This feature enables developers to provide users with access to credit without the need for traditional bank accounts or rigorous identity verification processes.
On the other hand, Onramp requires provider identity checks and regional eligibility before allowing purchases. This approach ensures that transactions are compliant with relevant regulations and adds an extra layer of security for users.