Cryptocurrency lender Nexo has announceed that it has cut the interest rates for all new and existing clients of its signature Instant Crypto Credit Lines™ to only 5.9% APR. Nexo is now effectively offering the lowest rates in the blockchain space.
The rate cut, already in effect, is the culmination of the company’s ongoing effort to bring down its funding costs by utilizing Nexo’s extensive network of financial partners and access to institutional liquidity.
Here are the key takeaways:
The new rate of only 5.9% APR continues to adhere to Nexo’s conditions for no hidden fees, no minimum repayment requirements and no credit checks which ensures maximum flexibility to borrow against their crypto assets in 40+ fiat currencies across more than 200 jurisdictions.
Unlike other companies that charge up to 4% in origination fees and 5-13% in liquidation fees, crypto lending Nexo conducts business without any additional charges as an extension of its #ZeroFees initiative.
Regardless of the reduction of cryptocurrency loans borrowing rates, the interest for Nexo’s ‘Earn Interest’ product will remain 8%, meaning clients will continue to earn the same high-yield interest on their idle assets.
Nexo always strives to further improve rates for its user base, currently surpassing 300,000 people worldwide, and offering credit lines from just $500 up to $2 million, is one of the many milestones along the road to make decentralized financial services even more inclusive.
The lowered interest rates for Nexo’s Instant Crypto Credit Lines™ mean а larger volume of business which in turn ensures ever-growing dividend payments for
Cryptocurrency Lender NEXO Token Holders
Having already processed more than $1 billion dollars and as the tokenization of the world progresses further, the improved interest rates guarantee that Nexo’s cutting-edge products are utilized by an even wider audience across the globe.
One of the early examples is the world’s first crypto-backed mortgage issued by Nexo to Brock Pierce for the purchase of a second home, all the while retaining ownership of his Bitcoin – a concept that now finds wide-spread adoption in the blockchain community.
“We are excited to be offering you Nexo’s services at these even better terms and wish you success in all of your crypto endeavours,” says Nexo’s CEO, Jean Mullor.
Mathieu is a Information technology professional with over 15 years of experience. He started one of the first bitcoin blogs existed in 2010. He started writing about, investing in bitcoin and promoting the first cryptocurrency when only a few technological savvy people knew about it. Mathieu is a world traveler who enjoys culture, technology, finance, salmon, rice and beans. He’s cool, collected and knows a great deal about blockchain technology.