CEX.IO to Launch Crypto-Backed Lending Services Globally
The platform will allow borrowings anywhere between $500 and $500,000.
CEX.IO, a cryptocurrency exchange based in the United Kingdom, is launching digital asset-backed lending services across ‘217 countries and territories’ later this month, Finance Magnates has learned.
The company will allow users to borrow between $500 and $500,000 with cryptocurrencies as collateral, and the loan credit will be made in either the US dollar or euro. Notably, a majority of such lending platforms offer loans in stablecoins, which puts CEX.IO among very few market participants to offer services in fiat.
The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation
The exchange highlights that its services will be available to its users across ‘Australia, the United Kingdom, the European Union, and most nations in Asia’.
“Our clients are a vibrant and diverse group of market participants, whose needs evolve with the industry,” Anton Chashchin, commercial director for the CEX.IO LOAN service, said. “We aspire to provide our clients with capital that helps them capture opportunities coming their way.”
Suggested articles
Don’t Let Your Clients Fall Behind with Delayed DataGo to article >>
The exchange detailed that initially, it will only take Bitcoin and Ethereum as collaterals, and will offer a loan-to-value (LTV) ratio of up to 50 percent, meaning borrowers can get a loan of up to 50 percent of the market value of the collateralized assets.
This LTV ratio is on par with many other existing crypto lending leaders.
Anonymity Not Allowed
It is to be noted that customers approaching to borrow against digital assets on CEX.IO need to complete the exchange’s know-your-customer (KYC) procedure.
“Our loans offer that extra boost, which traders, investors, startups, and entrepreneurs in general, need, while they can still benefit from the potential appreciation of assets they own,” Chashchin added.
Though headquartered in the UK, CEX.IO is also offering services in most of the states in the United States under the state Money Transmitter Licenses. Last month, Finance Magnates reported on the exchange’s plans to further expand operations into Asia by gaining a Singapore license.
Register on Estonia online business and get an enormous amount of profit in a short period of time.
Estonia is one of the best companies to invest your valuable time and money. So, Register now and get a huge amount of profit in a short period.
Want to create your own business don’t know how Estonia company registration is here for you. One of the best company in Europe Estonia company register gives you the opportunity to grow your business and make an immense amount of profit in a short time so don’t be late and register now and get profit soon.
All people are worried about their income so they try to think the new idea to start any business but setting up any business is not too easy but don’t worry Estonia is here for you. Estonia company register gives you the opportunity to build your own business. So invest your time and money in Estonia company register and earn huge amount of money in a short period of time. Hurry
it’s your right time to build a career in business through Estonia Company Registration. So, don’t be late. Register on this link and earn a huge amount of profit in a short period of time.
hey friend ,
if you want to do business and earn money so register on estonia and earn huge amount of profit in short time.
How far has the Ethereum blockchain come in a long time since its inception? We investigate key turns of events, changes, and difficulties. Doubtlessly five years is a generally brief timeframe for a data innovation organization, however, Ethereum has gained giant ground during this time, developing from its own underlying coin offering task to the biggest blockchain stage, running around 2,000 decentralized applications. Today, the market capitalization of its local digital money, Ether (ETH), is worth $38 billion — bigger than Ford Motor Company and the well-known application Snapchat. That, yet the estimation of Ether has seen a 121-overlap increment… Read more »