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CEX IO Is The First No Commission Crypto Platform As Crypto Demand Increases
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CEX IO Is The First No Commission Crypto Platform As Crypto Demand Increases
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LONDON, Feb. 10, 2021 /PRNewswire/ Crypto-backed lending service
CEX.IO LOAN that launched in October 2020, has been experiencing major demand, receiving over $100M worth of loan requests to date. Most of the requests came from institutional investors, despite the service s popularity among retail clientele, as well.
According to CEX.IO LOAN, such an increase in demand can be attributed to the institutionalization of the crypto-industry. Institutional investors in possession of cryptocurrencies regard it as collateral for borrowing funds and use it as such.
They prefer the company s service due to the convenience it offers to users. On the CEX.IO LOAN platform, customers can borrow cash against their cryptoassets in a quick and simple manner, without having to deal with credit checks or any unnecessary paperwork.
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CEX.IO Limited (www.CEX.IO) announces extension of its regulatory permissions. Granted by the Gibraltar Financial Services Commission, CEX.IO Limited has received the Money Lender License.
This license allows CEX.IO customers to instantly borrow funds against their cryptocurrency holdings without credit checks via the new CEX.IO LOAN service.
The digital asset-backed lending service provides much needed capital to various crypto market participants, including investors, traders, HODLers, startups, entrepreneurs, and large enterprises. At the same time, CEX.IO LOAN users can borrow any amount between $500 and $500,000 with flexible durations (ranging from seven days to one year) and a competitive loan interest starting at 14% to 8.4% per year.
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CEX.IO LOAN experiences massive institutional demand for its crypto-backed lending service, with 41% of customers requesting to borrow cash against Bitcoin, 53% against Ethereum, and 6% against DeFi tokens.
Crypto-backed lending service CEX.IO LOAN that launched in October 2020 in select global jurisdictions, has been experiencing major demand, receiving over $100 million worth of loan requests to date. While the service has been widely popular among retail investors, most of the platform’s loan requests came from institutional investors.
According to CEX.IO LOAN, such an increase in demand can be attributed to the institutionalization of the cryptocurrency industry. Institutional investors, who have cryptocurrencies in their possession, regard it as a potential collateral for borrowing funds and actively utilise it as such. The borrowed funds are then used for further investment purposes.
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