I just got a SBLOC which prohibits the use of the credit on security (stocks) or paying off margin debts. Curious if anyone can answer the qs below.
1) SBLOC money can be transferred to a different banks where they would have no insight into how the money is used. How do the bank holding the SBLOC check if the money is used for the right purpose?
2) Risk of smart contract aside, Stablecoin can yield 20% a yr so there is large % diff to make money off the low interest debts from SBLOC. Crypto is technically not a security by the SEC. Has anyone here used SBLOC to buy crypto before and had any issue with the bank?
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If you pull this off to yield farm with stables using your stock as collateral for the credit, then let me know. How hard was it to set-up the SBLOC?
@owhfnrj I don't think the bank cares where you use the SBLOC. But having a high yield makes it riskier. What makes the Anchor protocol low risk but still high yield?