Bitcoin Cash community members are able to borrow against their favorite digital asset in more than 40 fiat currencies across more than 200 jurisdictions. This is thanks to Nexo which now offers BCH Instant Crypto Credit Lines with one of the lowest annual percentage rates in the industry.
Nexo, the most successful crypto lender in the world, is expanding its ever-growing service by adding bitcoin cash (BCH) to the list of accepted collateral for its signature Instant Crypto Credit Lines following a new partnership agreement with Bitcoin.com.
Making the world’s first BCH-backed loans available on the Nexo platform enables BCH holders to borrow against their assets rather than selling them when in need of liquidity. Including bitcoin cash on Nexo’s Instant Crypto Credit Lines platform greatly increasing the asset’s utility, eases selling pressure and makes hodling BCH easier in the long run, all while providing the added benefits of Nexo’s unrivaled interest rates starting from 5.9% APR and superior tax-efficient service in 40+ fiat currencies across 200 jurisdictions.
Antoni Trenchev, managing partner at Nexo, commented on the partnership with Bitcoin.com: “Providing exceptional crypto lending services worldwide is fundamental for Nexo, and an underlying part of realizing this goal is ensuring our platform supports a vast selection of cryptocurrencies. Bitcoin cash, being one of the most widely used crypto assets, significantly increases Nexo’s addressable market. Together with bitcoin cash, Nexo is thriving in its mission to grow the utility and adoption of cryptocurrencies, and bring quality banking services to all corners of the world.”
Nexo is the world’s leading regulated financial institution for digital assets. The company’s mission is to maximize the value and utility of digital assets by offering tax-efficient ‘Instant Crypto Credit Lines,’ high-yield ‘Earn Interest’ products and ‘Send & Pay’ capabilities for its clients, while enjoying the $100 million custodial insurance and military-grade security of the Nexo Wallet. Since raising $52.5 million in 2018, Nexo has processed $1+ billion in 40+ fiat currencies for more than 500,000 users.
Bitcoin.com is successfully promoting BCH adoption as peer-to-peer electronic money, as well as the development of the surrounding BCH ecosystem, with all its business partners. For example, recently the electronics manufacturer HTC added native bitcoin cash support to its flagship smartphone, Exodus 1, following a partnership with the company. Bitcoin.com is also in discussions about listing a bitcoin cash futures contract on a new exchange with approval from the U.S. CFTC, which is expected to reach the market by the first quarter of 2020.
Bitcoin.com CEO Stefan Rust commented: “More and more companies are seeing the ever-rising activity on many fronts around BCH and wish to take part in the action. It is great to see Nexo joining the foray with such interesting and compelling new financial services.”
What do you think about Nexo offering bitcoin cash instant crypto credit lines? Share your thoughts in the comments section below.
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Published at Mon, 09 Dec 2019 19:30:40 +0000