Crypto Lender Nexo Launches NFT Lending Desk, Loans up to 20% for Popular NFTs
On December 16, the blockchain-based lending platform Nexo announced the firm has launched a non-fungible token (NFT) lending desk. While the company offered crypto-backed loans using tokens like bitcoin and ethereum for instant funds, Nexo is offering instant liquidity to NFT holders that don’t want to sell their NFTs. Nexo to Offer Loans for Bored Ape and Cryptopunks NFT Collateral NFTs have become a big deal in 2021 and a billion-dollar industry almost overnight. Popular collections like the Bored Ape Yacht Club (BAYC), Cryptopunks, and Meebits have sold for hundreds....
Related News
Bored Ape Yacht Club and CryptoPunks NFTs are two of the options supported as collateral for crypto credit lines on the platform. Nexo, the crypto borrowing and exchange platform, has launched an NFT Lending Desk in partnership with NFT hedge fund Three Arrows Capital. The new lending desk caters to over-the-counter, or OTC, clients to offer crypto credit backed by NFTs. Nexo is one of the first crypto lenders to allow customers to borrow stablecoins, ETH, and other cryptocurrencies using certain NFTs as collateral. The company stated that in its initial iteration, the service will accept....
Following the U.S. Securities and Exchange Commission (SEC) charging the crypto lending platform Blockfi with failing to register its retail crypto lending product and fining the firm $100 million, the crypto lender Nexo has announced it will no longer allow U.S. citizens to earn interest on new savings wallet top-ups. However, Nexo customers from the U.S. will continue to earn interest on their current savings wallet balances held prior to the announcement.
Nexo ‘Reveals Big Savings News for US Customers’
Last week, the SEC cracked down on the crypto lending....
Lending institution Nexo has teamed up with the custodian to explore innovative products and tri-party lending agreements to institutional investors.
Leading cryptocurrency lender Nexo has offered to buy distressed competitor Vauld, which halted operations in the face of financial difficulties. The proposal comes after the Singapore-based company said it was exploring restructuring options. Nexo Secures Exclusive Agreement to Explore Vauld’s Acquisition Singapore-based crypto lending and trading platform Vauld, which announced suspension of withdrawals and other transactions for customers, has been offered a way out of its troubles. On Tuesday, major crypto lender Nexo unveiled it had signed an indicative term sheet with Vauld....
Crypto lending platform Nexo has been accused causing $5 million worth of client liquidations after suspending the use of XRP as collateral without warning in December. United States-based crypto lending platform Nexo is facing a class-action lawsuit over suspension of XRP services on Dec. 23, 2020. Lead plaintiff, California resident Junhan Jeong submitted the complaint on April 1. The complaint accuses Nexo of breaching its user agreement by suspending the use of XRP as loan collateral without notifying its customers beforehand. The suspension followed the SEC’s legal action against....