The idea of crypto lending is one of the most revolutionary thing happened because of the wide adoption and popularity of cryptocurrencies. Blockchain based lending is the future when it comes to short term loans for personal use or margin trading. Switzerland-based Nexo, which is considered to be the first platform to provide instant crypto backed loans is adding XRP as the newest collateral option on their platform.
XRP, that aims to enable real time global payments anywhere in the world, is now the 3rd largest cryptocurrency by market valuation and is one of the fastest and most scalable digital assets. By accepting XRP as collateral for crypto loans, Nexo is providing an incredibly powerful utility feature to the cryptocurrency. By their continuous efforts to enable mass adoption of crypto, the innovative blockchain project backed by Credissimo is driving the growth of the global crypto economy, opening new doors to the financial sector that has been monopolized by banks for ages.
Nexo’s platform has been lauded by millions of people, for their diligent and prompt services. Today, it is regarded as the only company to process more than 200 jurisdictions in over 40 legal tenders or currencies. Conceivably Nexo is the only organization providing instantaneous credits with a great deal of flexibility. In a period of about 24 hours after the program was launched, Nexo received over USD 2,000,000 in XRP crypto-backed credit/loans requests. Due to oversubscription in the pre-sales, Nexo called off public sales in real time. According to statistics, the subscription went up by up to 11 times, which was the highest figure ever recorded.
“With the aforesaid features coming in handy, Nexo has soared high to be among one of the best crypto services. This trend is attributed to Nexo’s classy platform and the incredible user interface. This is a team that has a successful track record for over 10 years extending over $120 million in credit,” says co-founder Antoni Trenchev.
In the blockchain industry, the company has set the pace in which things should be done in the 21st century by coming up with well-timed idea- crypto backed credits to all users in spite of infrastructural and physical challenges. What makes Nexo stand out is that it offers an inclusive service to all no matter their geographical location and makes sure that customers receive their loans on the same business day without any hassle.
More information can be found at: https://nexo.io
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