Nexo adds Binance Coin as collateral for instant crypto-backed loans

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Binance Coin (BNB) is the latest addition as a guarantee option on the Nexo platform , new ones are regularly integrated.

Nexo helps crypto investors unlock the value of their wealth by providing instant loans in USD, EUR, and USDT (Tether) against their crypto holdings. By pledging their assets, rather than selling them, clients gain immediate liquidity and retain the potential for future appreciation in the value of their cryptocurrencies and tokens. The concept quickly gained huge success among crypto miners, hedge funds, companies that have conducted ICOs, and many more. Investors of all sizes and nationalities have found various reasons why Nexo is their first association with cryptocurrency backed loans.

Prior to adding BNB, users had already borrowed substantial amounts by staking Bitcoin (BTC), Ethereum (ETH), and the platform’s native currency, the NEXO Dividend Token. The latter grants borrowers a 50% discount on their interest, while entitling them to a 30% dividend on the company’s net profits.

BNB was launched by Binance by raising $ 15 million via an initial coin offering (ICO) in july 2017. As a result, Binance has become one of the largest cryptocurrency exchanges with a daily trading volume of over $ 1 billion.

This has made BNB one of the best cryptocurrencies in the world with a market capitalization of over $ 1.45 billion at the time of publication. The coin has proven to be remarkably resilient, resisting multiple storms and outperforming Bitcoin in bear markets.

“Inclusion of BNB in ​​our growing list of collateral options expands our clients’ choice, adds additional utility to Binance Coin (BNB) and eases selling pressure,” said Antoni Trenchev, Partner director of Nexo. “Our ultimate goal is to create value for the community and the broader crypto ecosystem. Accepting BNB is another step in that direction.”

Nexo is gaining ground as a primary driving force in the Crypto FinTech industry, opening up real world applications and driving mass adoption of digital assets. The company has received over 40 requests from different blockchain players who want their tokens accepted as collateral on the Nexo platform . The interest demonstrates the magnitude of pent-up demand for Nexo’s products and illustrates the growing importance of Nexo as a lending bridge between the crypto ecosystem and the cash economy.

Nexo raised $ 52.5 million in a private 11x oversubscribed coin sale earlier this year. It launched its Nexo platform in april 2018, becoming one of the few blockchain companies in the world to offer a product live shortly after its offering.

Nexo has already started issuing loans and several potential partners have expressed interest in providing additional financing to Nexo to provide token-backed loans.

About Nexo

Nexo is powered by Credissimo, a leading FinTech group serving millions of people across Europe for more than 10 years. Credissimo has always operated under the strictest regulatory requirements and the strictest supervision of several European banking and financial services regulators.

Now, the same team and its advisory board, bolstered by the ever-growing community of Nexo supporters and the huge demand for instant crypto-backed loans, are unleashing the value of digital assets in a growing token economy that is growing. will change the very fabric of a $ 5,000 billion market.

For more information, please visit: www.nexo.io

About Binance

Binance is an international cryptocurrency exchange launched in july 2017 by the co-founders Changpeng Zhao and Yi there. At the beginning of july 2018, it was the largest stock exchange in the world with a trading volume of nearly $ 1.6 billion.

At the time of writing, its native BNB token is among the top 20 coins in the world. It offers users a 50% discount on Binance trading fees when paying in BNB.

SOURCE Nexo

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