Nexo Lowers Its Crypto Loan Interest Rate to 5.9% APR
Nexo is thrilled to announce that it has cut the interest rates for all new and existing clients of its signature Instant Crypto Credit Lines™ to only 5.9% APR!
We are now offering the lowest rates in the blockchain space and conduct business at #ZeroFeeshttps://t.co/l6tGDZblSY pic.twitter.com/zMAuHrLEfV
— Nexo (@NexoFinance) October 22, 2019
According to the announcement, Nexo was able to cut its APR by leveraging its network of financial partners to secure access to long-term, cost-efficient financing. By lowering the interest rate, Nexo hopes to grow its lending volume and market share, which, in turn, will increase the dividend payouts to NEXO holders.
“Nexo always strives to further improve rates for its user base, currently surpassing 300,000 people worldwide, and offering credit lines with a minimum amount of $500 and up to $2 million, is one of the many milestones along the road to make decentralized financial services even more inclusive,” stated the Nexo team in the announcement.
This news comes several days after NEXO began trading on Binance DEX. Nexo had previously become the first crypto lender to start accepting BNB as collateral.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.