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TransUnion will provide traditional (off-chain) credit scores for individuals when they apply for loans on blockchain-based protocols without compromising applicants’ privacy, according to the press release. The firm is teaming up with data security firm Spring Labs and DeFi identity and compliance software developer Quadrata to provide the service.
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In a press release, Jason Laky, executive vice president of financial services at TransUnion, said that “credit scoring is an important tool for lenders to help mitigate risk regardless of the platform being used.
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