Nexo Adds Binance Coin as Collateral for Instant Crypto-Backed Loans

ZUG, Switzerland, July 12, 2018 /PRNewswire/ —

Nexo is gratified to announce that as of July 1, 2018, Binance Coin (BNB) holders are means to use their coins as material to obtain present loans from Nexo, strengthening the purpose as a matter for the expansion of the blockchain ecosystem.

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Binance Coin (BNB) is the latest serve as a material choice on the Nexo Platform , with new ones being integrated on a unchanging basis.

Nexo helps crypto investors clear the value of their resources by providing them with present loans in USD, EUR and USDT (Tether) opposite their crypto-holdings. By pledging their assets, rather than offered them, clients obtain evident liquidity and keep the upside of destiny value appreciation of their cryptocurrencies and tokens. The judgment has fast gained an huge following among crypto miners, sidestep funds, companies that have conducted ICOs and many more. Investors of all sizes and nationalities have found several reasons because Nexo is their first organisation with crypto-backed loans.

Prior to adding BNB, users already borrowed estimable amounts staking Bitcoin (BTC), Ethereum (ETH) and the platform’s local currency, the NEXO Dividend Token. The latter gives borrowers a 50% bonus on their interest, all the while entitling them to a 30% division from the company’s net profits.

BNB was launched by Binance lifting $15 million through an initial silver charity (ICO) in July 2017. Consequently, Binance went on to turn one of the largest cryptocurrency exchanges with a daily trade volume of over $1 billion.

This has incited BNB into one of the world’s tip cryptocurrencies with a marketplace capitalization of over $1.45 billion at the time of publishing. The silver has proven remarkably resilient, weathering mixed storms and outperforming Bitcoin in bear markets.

“BNB’s inclusion in our flourishing list of material options expands the choice of our clients, adds serve application to Binance’s silver (BNB) and eases offered pressure,” pronounced Antoni Trenchev, Nexo’s Managing Partner. “Our ultimate idea is to emanate value for the village and the wider crypto ecosystem. Accepting BNB is another step in this direction.”

Nexo is gaining traction as a categorical pushing force in the Crypto FinTech industry, by opening up real-world applications for and fostering mass adoption of digital assets. The association has perceived more than 40 requests from different blockchain players who want their tokens to be supposed as material on the Nexo Platform . The seductiveness demonstrates the scale of restrained direct for Nexo’s products and illustrates Nexo’s flourishing significance as a lending overpass between the crypto ecosystem and the money economy.

Nexo lifted $52.5 million in an 11x oversubscribed private silver sale progressing this year. It launched the Nexo Platform in April 2018, apropos one of the few blockchain companies in the universe with a live product shortly after the offering.

Nexo has already started arising loans and several impending partners have voiced seductiveness in providing serve financing for Nexo to give out loans corroborated by their tokens.

About Nexo 

Nexo is powered by Credissimo, a heading FinTech Group portion millions of people opposite Europe for over 10 years. Credissimo has always operated underneath the tip regulatory mandate and strictest organisation by mixed European banking and financial services regulators.

Now the same Team and the Board of Advisors, empowered by the ever-growing village of Nexo supporters and huge direct for present crypto-backed loans, are unlocking the value of digital resources in a fast expanding token economy that will change the very fabric of a $5 trillion-dollar market.

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

About Binance 

Binance is an general cryptocurrency sell launched in July 2017 by co-founders Changpeng Zhao and Yi He. At the commencement of July 2018, it was the world’s largest sell with a trade volume of scarcely $1.6 billion.

At the time of writing, the local token BNB is among the tip 20 coins in the world. It offers users a 50% bonus on Binance trade fees when profitable in BNB.

Article source: http://markets.businessinsider.com/news/stocks/nexo-adds-binance-coin-as-collateral-for-instant-crypto-backed-loans-1027363490

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