CoinRabbit is a centralized crypto lending service, founded in 2020, that issues fixed-term and open-ended loans against Bitcoin, Ether, XRP, and other assets. Loans pay out in stablecoins such as USDT and USDC to a crypto wallet, and sign-up needs only an email address or phone number, with no credit check.
The advertised starting rate is 11.95% APR, which applies with the 80% liquidation option and a 65% LTV cap. Fixed-term loans, usually 30 days, charge interest for the full period at the start, while open-ended loans allow partial repayment.
Collateral ownership transfers to CoinRabbit when the loan is issued, and equivalent assets come back after repayment. The terms exclude the US, UK, and Hong Kong, among other jurisdictions.