The crypto news today feature the leading crypto lending project Nexo (NEXO) which is pleased to announce that having secured long-term cost-efficient financing, the project managed to significantly lower the rates on its signature Instant Crypto Credit Lines to the benefit of its customers. As Nexo cuts the borrowing rates, it now has one of the lowest APRs (Annual Percentage Rates) in the blockchain space.
The details show that the APR on Nexo’s Instant Crypto Credit Lines now starts at only 5.9% without any hidden fees, no minimum repayment requirements and no credit checks. This ensures maximum flexibility for clients to borrow against their crypto assets in more than 40 fiat currencies across more than 200 jurisdictions.
Unlike most of the lenders in the blockchain space, Nexo cuts its borrowing rates and instead of charging up to 4% in origination fees plus 5% to 13% in liquidation fees, the project conducts business without any additional charges as an extension of its #ZeroFees initiative.
The Nexo crypto news also show that the rate cut is a result of the company and its ongoing effort to bring down the funding costs by deploying the network of financial partners and access to institutional liquidity. The lowered interest rates on the Nexo Instant Crypto Credit Lines mean a larger volume of business. As Nexo cuts these borrowing rates, the result will be ever-growing dividend payments for NEXO Token Holders.
Regardless of the reduction of these borrowing rates, the interest for Nexo and its ‘Earn Interest’ product still remains at 8%. This means that clients will continue to benefit from the current high-yield interest on their idle assets.
Nexo always strives to further improve the rates for its user base and currently surpasses 300,000 people worldwide. The project is offering credit lines with a minimum amount of $500 and up to $2 million. This is one of the many milestones along the road to make the decentralized financial services even more inclusive.
For all of the people who don’t know, all of the Nexo products are fully automated and offer an incredibly intuitive user experience with a flexibility to fit the individual financial needs of a global customer base that now counts more than 300,000 users. This is why Nexo cuts on the borrowing rates and is apparently interested in dropping them even further.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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