Nexo, the cryptocurrency loan service based in Switzerland has announced the platform will add bitcoin cash (bch) support. The company offers crypto-fiat loans over $1,000, without the need for collateral credit controls. Their latest addition will allow token holders to present their tokens to facilitate instantaneous financing in over 40 trust currencies.
Nexo has been expanding its outreach quite rapidly, the current confirmation of adding support for bitcoin cash and litecoin now sees the platform supporting 6 digital assets. Asset holders can borrow between $1,000 and $2 million, rather than spend their chips, the user can lock their assets in the nexo platform for a loan. The parts may be recovered after repayment of the loan.
Nexo
Secured by custodial partner Bitgo, Nexo boasts to have had issued more than $1 billion of cryptocurrency loans to date. The platform also facilitates additional credit should the value of secured cryptocurrencies increase. In particular, the BITGO guardian partner has just completed its financing series b and has been successful in attracting a number of institutional clients to its service.
More: Mike Novogratz Read the whole story: Mike Novogratz. In Crypto Startup BitGo
Crypto-Fiat Loans
In Crypto Startup BitGoCrypto-Fiat Credits. Several days ago, on the 10th of October. 19, the cryptocurrency loan platform, salt added Dogecoin support, while other loan platforms like ethlend and Celsius network have also gained a lot of importance.
The digital asset lending market has diverse arrangements such as short-term financing for hedge funds or to raise capital for new investment opportunities. Nexa has been primarily active in the cryptofiat loan service for cryptocurrency miners, who are looking to cover hardware charges. Moreover, many asset holders borrow primarily to purchase more cryptocurrencies, with the hope that the value of their tokens will increase, that will allow them to turn a profit without selling their existing assets.
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