LONDON, February 10, 2021 / PRNewswire / – Crypto-Backed Lending Service CEX.IO LOAN that started in October 2020, is experiencing great demand and is getting over $ 100 million of previous credit inquiries. Most of the inquiries came from institutional investors, although the service is also popular with retail clients.
According to CEX.IO LOAN, such an increase in demand is due to the institutionalization of the crypto industry. Institutional investors who own cryptocurrencies consider them to be collateral for borrowing and use them as such.
They prefer the company’s service because of the convenience it provides to users. On the CEX.IO LOAN platform, customers can quickly and easily borrow cash against their crypto assets without having to worry about credit checks or unnecessary paperwork.
CEX.IO LOAN serves various market participants of cryptocurrencies, from private investors and traders to start-ups and large companies. Users can choose any amount between $ 500 and $ 100,000 At competitive interest rates from 8.75% per year and a loan period of seven days to one year.
The service has already seen high demand from VIP customers, with 41% of all CEX.IO LOAN customers lending cash against Bitcoin, 53% – against Ethereum and 6% – against decentralized financial tokens (DeFi).
While small investors take out loans $ 1,400 On average, VIP customers request larger loans, with the typical amount being $ 1 million or higher. Institutional clients will also need the funds for extended periods of time (usually 6-12 months), which suggests a long-term wealth management strategy.
“As institutional investors find the digital asset industry increasingly attractive, it is a pleasure to help them with our crypto-based enterprise-class instant loan platform. Security, convenience and compliance are key priorities for corporate customers that we have always had for all of our customers in the rapidly growing CEX.IO ecosystem, “said Anton Chashchin, Commercial Director for the CEX.IO LOAN service.
About CEX.IO LOANS
CEX.IO LOAN is part of the CEX.IO group. Founded in 2013, CEX.IO operates one of the largest international exchanges in the cryptocurrency market, which is one of the ten best Crypto Compare exchange services. With offices in the UK, United States of America, Ukraine, Cyprus, and Gibraltar, CEX.IO serves over 3 million customers worldwide. From beginners to professional traders as well as institutions and companies, CEX.IO meets the needs of various crypto market participants with a reliable, highly secure digital asset service.