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Friday, June 17, 2022 12:15:51 PM
Got confirmation that Helio does NOT do any direct lending or hold any customer assets anymore. They're 100% aggregator now.
The 2019 PR's that account for the pre-merger biz model (with the Lloyd's of London insured 100mil line of credit) are obsolete. They either don't have or don't use the LOC now.
The lender itself (to whom Helio has referred the borrower) is who holds the borrower collateral in a cold wallet. Helio is completely out of the loop at that point.
If there's a different PR that you're referencing that indicates they are direct lending let me know & I'll do the DD.
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