The startup Nexo, which activates as a cryptocurrency loans provider, has announced that it is now accepting XRP-based crypto loans, which is excellent news for the XRP (XRP) holders who would like to access funds.
The decision was taken following a recent poll the company operated on its site and which revealed that increasingly more people are now holding XRP (XRP) and even more are about to join the Ripple’s token craze and buy XRP. The XRP-based crypto loans become an official solution on Nexo platform on October 18th.
Besides XRP (XRP), the startup plans to add Litecoin (LTC) and Bitcoin Cash (BCH) crypto loans on their platform.
Nonetheless, Nexo has now become the first crypto loans startup to add XRP (XRP) as collateral for loans and, according to its official announcement, users can now access up to $2 million against their Nexo wallet XRP (XRP) holdings.
Nexo Offers XRP (XRP)-Based Crypto Loans
Nexo crypto loans startup, a partner with SEC-accredited custody provider BitGo, provides its solutions in over 40 fiat money currencies and over 200 jurisdictions from around the world, guaranteeing its reliability the more than 1 million loans currently in the process.
Earlier this year, Nexo ICO set its hard cap at $52,500,000, as the company sold about 525,000,000 NEXO tokens to investors during the fundraising.
On the other hand, at the moment of this writing, XRP (XRP), Ripple’s token, trades at $0.456278, dropping by about 1%. It also totals a market cap of $18,250,042,123 which places the XRP on the third position in the cryptocurrency market. Also, XRP (XRP) is now battling with Ethereum (ETH), the occupant of the second place in the market, with a market cap of $20,865,398,416.
In recent weeks, however, XRP (XRP) even surpassed Ethereum (ETH) for a few time, but only briefly. Also, it has become one of the most popular altcoins in the cryptocurrency market.
Vadim has been a fan of decentralized systems, blockchain technology, and cryptocurrency since he first bumped into these concepts back in 2011. For us, he will cover Bitcoin (BTC), cryptocurrency, and blockchain technology news.