Last week, the provider of crypto-currency credits Nexo has announced that the platform now accessible instant loans, secured tokens Ripple XRP.
A few days later the company told about the event in more detail in his blog, the team Nexo explains that the decision was made based on the results of a survey conducted in the community and showed that users are interested in new options. In addition, as reported by the managing partner of Nexo Anthony Trenchev (Antoni Trenchev) in an exclusive interview with reporters CCN, the company increases the ratio of “collateral” (LTV) for XRP from 30 to 40%.
Thus, if the user makes a Deposit of XRP in the amount of $10 000, he can get instant credit with a limit of $4000. At the moment, a higher LTV ratio — 50% have only bitcoin and Ethereum.
It is worth noting the emergence of new options to holders of token Ripple continues a series of events that crypto-startups can burn itself into an asset: in addition to numerous partnership agreements, which appear almost daily, a growing importance in Cryptoprotected gains and the currency of the company, entrenched in third place in the world rankings. As you know, some time ago it even for a short time displaced from the second place of the rating of Ethereum. Yesterday XRP gained 4.5 percent, however, at the time of publication, along with all the top currencies again slightly declined, losing 1.5 percent.
Widespread due to its role as the “destroyer” of the global system of cross-border payments and reputation of one of the fastest and most scalable asset-based blockchain, XRP is popular with investors seeking the potential in the field of long-term investments. As noted in Nexo, a new option is potentially another important use XRP.
Thus, the token holders who need quick cash can just take out a loan secured against their XRP, instead of selling them, allowing you to hold the asset to save your investment and reduces the pressure for money provided by the sellers. Nexo, in turn, becomes the first lender that accepts XRP as collateral for cryptocurrency loans, according to the statement in the blog, currency Ripple has received a new “incredibly effective consumer property”.
Perhaps Nexo can afford such a formulation — Anthony Trenchev spoke about the growing scale of the company’s activities and success with the users:
“As for cryptocurrency loans Nexo — all were phenomenal. Less than six months on the platform for 120 000 people, and we have worked with tens of millions of dollars in more than 40 currencies in over 200 jurisdictions where we currently, existing activities.”
The statement also says that the company plans to include Litecoin and Bitcoin as Cash option for bail based on the results of another survey of the community.
“BCH and Litecoin is scheduled for this November, and everything goes according to plan. In addition, we are going to add another 6-7 options for bail in 2018. The ability to take out a loan secured against their all coin is a great additional consumer property, received high praise in their communities”.
Recall that in the past week about the collaboration with Ripple also said several companies working in the field of payments and money transfers: Moneynetint from the UK, Viamericas from the United States and Flutterwave representing the African continent.
