Divine Research uses World ID to verify 30,000 crypto loans

Mars Finance News: According to Cointelegraph, San Francisco lending institution Divine Research announced that since December last year, it has issued approximately 30,000 unsecured USDC loans through the World ID identity verification system. Each loan is less than $1,000, primarily targeting overseas users underserved by traditional financial services. The platform's loan interest rates range from 20% to 30%, with an initial borrower default rate of around 40%. The World ID system, established by OpenAI CEO Sam Altman, prevents users from creating multiple accounts through iris scanning technology. The platform states that ordinary investors can obtain stable returns by providing liquidity, and the system is designed to ensure lenders remain profitable after calculating default rates.