todaysgazette.com
The world is gradually becoming digitalized to the level that cryptocurrency is now making name in almost all sectors. The money lending industry has also been digitalized with cryptocurrency and Stellar Lumen (XLM) in making its debut into the sector with the help of an instant crypto lending company.
The tenth largest cryptocurrency, Stellar (XLM) has now become the latest collateral option for over 200,000 crypto users.
Nexo, made this known in a statement, affirming that Stellar (XLM) will be joining the league of crypto lending assets via its signature Instant Crypto Credit Lines™.
Nexo that boast as the most advanced and trusted instant crypto lending provider, had previously added the likes of BTC, ETH, XRP, BNB, LTC and NEXO assets as a collateral options.
Through the latest development, Nexo will make Stellar (XLM) open to its over 200,000 in 200+ jurisdictions. Added to that, Nexo offers customers its crypto lending services with 45+ fiat currencies.
The blockchain company, which allows users to retain the ownership of their crypto asset while receiving cash on loan, declared that the addition of Stellar (XLM) was birthed by demands from its community in its ongoing poll.
Nexo secures funds on its platform with $100M custodial crypto assets insurance with leading insurance company Lloyd’s of London. It also receives the backing of BitGo, a leading audited custodian, in safeguarding funds.
The addition of XLM to its platform as a collateral option will ease XLM holders’ selling pressure when they are in need of cash and make them Hodl XLM for longer period as desired.
Nexo, through the advancement, will hand in an incredible utility to XLM and it users as it also guarantees tax efficiency services through its instant credit lines.
The managing partner at Nexo, Antoni Trenchev, in a CNBC interview said: “Nexo is seeing unprecedented demand for its signature Instant Crypto Credit Lines™ which attest for sustained, long-term profitability and ever-growing dividends for the NEXO Token Holders”.