CEX.IO company blog | CEX.IO will offer instant lending services secured by cryptocurrencies in 217 countries and territories

A multi-million dollar pool will support the issuance of loans in US dollars and euros in amounts up to $500,000liquidity.

CEX.IO, one of the largest international exchanges in the cryptocurrency market, is set to launch a digital asset-backed lending service in September. The service will be available in 217 countries and territories, including Australia, the UK, the European Union and most of Asia. CEX.IO LOAN will allow various crypto market participants to borrow funds against their digital assets within a few minutes and without a credit check.

As part of a flexible lending service, CEX clients.IOs can choose the term and the amount of the loan they intend to take. The loan term varies from a week to a year, and you can borrow any amount, from $ 500 to $ 500,000. Larger and longer-term loans will be issued at lower interest rates.

The service will be facilitated by a multi-million dollar liquidity pool, a significant part of which has already been provided by CEX.IO and its partners.

To borrow funds, the user firstmust deposit cryptocurrency into his account, which will serve as collateral for obtaining a loan. Currently, CEX.IO LOAN users will be able to borrow funds against Bitcoin (BTC) and Ethereum (ETH) with a loan-to-collateral ratio (LTV) of 50%. Registered and verified clients will be able to receive loans instantly. New clients will need to open an account with CEX.IO and go through the KYC procedure before submitting a loan request.

Successfully issued loan in dollars or euroscredited to the borrower's user account. The borrower can then withdraw funds to a card or bank account, or use the money to trade cryptocurrency on the platform. After the full repayment of interest and loan principal, CEX.IO automatically returns the pledged digital assets to the borrower.

Loans secured by digital assets,provide use cases for many participants in the cryptocurrency market. Borrowing fiat money against digital assets instead of selling those assets is becoming a practical alternative for those in need of additional capital. The loan provides the necessary funds without having to give up the potential growth of the cryptocurrency rate. For traders and investors, this liquidity injection can ensure smooth market activity. For startups and sole proprietors, a loan can cover operating and growth costs.

“Our clients are dynamic and diversea group of market participants whose needs evolve with the industry. We are committed to providing our clients with the capital to help them seize the opportunities they face. Our loans provide the additional impetus that traders, investors, startups, and entrepreneurs in general need. However, they can still benefit from the potential increase in the value of the assets they own, ”said Anton Chashchin, Commercial Director of CEX.IO LOAN.

Read more about the functionality of the service on the website.