West.cn Launched Loan Project Dai.top
The world's biggest newgTLD registrar West.cn launched a loan business Dai.top on 15 February 2016. Borrower pledges domain names - subject asset as collateral. Interest rates are from 9% to over 20%. If the borrower defaults on the loan, West.cn would repossess the domain and put it on auction to recover sums owing to it. But because of Jiangsu Bangning's warranty, loans on .top domains are secured, making it the only secured TLD loan on Dai.top. So far, 350 loans were made, with total volume 6 million CNY(about 940 thousand USD). Stimulated by this success, registration volume of .top increased quickly and passed 1.5 million!