Crypto.com to Issue Loans, Allow Users to Earn via Interest

Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and investment firm Crypto.com announced on Thursday that it has launched two new features. Customers of the site can now use the company to take out loans or to deposit cryptocurrency into an account for a fixed term and receive interest on it.

The latter service, which the company is calling Crypto Earn, allows users to earn interest of up to eight percent per annum.

Currently, the site only accepts deposits in Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and two US dollar stable coins - Paxos Standard Token and Tether USD.

Users of the service must also deposit their cash for a fixed period of one month or three months. In a statement issued on Thursday, Crypto.com said that it would be launching flexible holding terms in the near future.

No credit check, no problem

The other new service, Crypto Credit, allows users to take out fiat currency loans by putting down bitcoin as collateral.

Loans must be paid back within one year, but, unlike most banks, there are no scheduled payments. Crypto.com also noted that it would not be charging monthly fees, late fees, or imposing any other payment deadlines.

No credit checks are imposed on users and funds can even be withdrawn to a Crypto.com-issued Visa card and spent wherever a user wants.

"Crypto Earn offers the most attractive interest rates in the market today," said Kris Marszalek, Crypto.com's co-founder and chief executive officer. "With the MCO Visa Card and Crypto Credit, we are uniquely positioned to do it while maintaining sustainable unit economics."

"MCO Visa Card, Crypto Earn, and Crypto Credit together form a powerful product suite that nobody else in the industry has today. We've never been more excited about the potential of our platform and look forward to continue scaling it globally later this year."