Thanks to a strategic partnership with TrustToken, TrueUSD is now available both as collateral and as a repayment option for Nexo’s instant crypto loans, making the Swiss company an official TrueUSD lending partner.
TrueUSD (TUSD) is a stablecoin that you can trade 1 to 1 for US dollars. TUSD is the first asset token created on the TrustToken platform.
Now, Nexo customers can deposit True USD and borrow against it with a 95% loan-to-value (LTV) ratio which provides additional utility functionality for the stablecoin. TrueUSD can also be used to finance existing loans with no price risk to the customer.
The two companies, Nexo and TrustToken – “the company that is restoring confidence in the stablecoins space” – are among the few blockchain companies that have provided working solutions to the real problems plaguing the crypto community.
As the world’s leading instant crypto-back loan provider, Nexo offers instant loans without requiring credit checks or the time required by manual approval processes.
Get a loan, according to Nexo co-founder Antoni Trentchev, “is really simple.”
“You register on the platform in a few clicks. Then deposit the crypto you want to use as collateral. You can choose between BTC, ETH, BNB Coin, XRP, and NEXO (10 more guarantee options are coming by the end of the year).
“Once the deposit is confirmed on the network, you get your instant line of credit and can withdraw the desired amount to your bank account. The Nexo credit card is coming very soon and has excited a lot of people ”, Trentchev told STOCheck in an interview.
Supported by TechCrunch Founder Michael Arrington, the Swiss company allows its clients to easily access cash anywhere in the world by bank transfer, cryptocurrency or Nexo credit card and to seize investment opportunities or immediately respond to liquidity needs.
Nexo for investors
For investors, the NEXO token is the world’s first SEC-compliant asset-backed token and is backed by the underlying assets of Nexo’s loan portfolio.
NEXO tokens are a safe haven because they provide passive income in the form of 30% of company profits, distributed monthly to NEXO token holders.
The tokens offer additional utility features such as reduced interest rates on Nexo Instant Cryptocurrency Backed Loans and are also accepted as collateral on the Nexo platform.
The World’s Leading Instant Cryptocurrency-Backed Loan Provider
Powered by Credissimo, a FinTech company that has been offering financial innovations since 2007, Nexo provides instant loans to millions of people across Europe.
By applying blockchain technology, the Swiss company is Credissimo’s response to resolve the funding gap for the new digital economy.
With Nexo, clients get instant fiat currency loan (EUR, USD, etc.) or cryptocurrency by placing their digital assets in a Nexo Wallet. They retain 100% ownership of their digital assets, and without the need to sell them, borrowers now retain the full benefit of asset value appreciation.
Ownership of digital assets is secured and guaranteed by transparent blockchain Repo for Digital Assets lending contracts, while crypto overdrafts are an affordable, flexible and efficient solution that also does not incur tax obligations or fees. exchange and hidden.
Disclosure: This article includes a client of an Espacio holding company