Nexo to Accept EOS as Collateral for its Instant Crypto Credit Lines

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January 7, 2020 by
Nexo to Accept EOS as Collateral for its Instant Crypto Credit Lines

London, January 7, 2020Nexo, the world’s leading crypto lender, is pleased to announce that it has now taken the important next step in expanding its ever-growing service by adding EOS to the list of accepted collateral for its signature Instant Crypto Credit Lines.

  • Nexo is adding EOS to the list of available collateral for its Instant Crypto Credit Lines
  • By accepting EOS Nexo is expanding the utility of the EOS token, allowing holders to spend the value of their EOS without selling it
  • The addition of EOS is a result of the company’s ongoing mission to expand its crypto banking services to the entire blockchain community

EOS is the native cryptocurrency of EOSIO, an open-source blockchain protocol built by Block.one. EOSIO’s industry-leading transaction speed, flexible utility and user-friendly infrastructure make it one of the significant, forward-thinking networks in the blockchain community.

Making EOS available for Nexo’s Instant Crypto Credit LinesTM allows ЕОS holders to borrow against their assets rather than selling them when they need access to liquidity, thus greatly increasing the utility features of the EOS token. It eases selling pressure and makes HODLing EOS easier in the long run. Moreover, Nexo’s Instant Crypto Credit Lines have the added benefit of being markedly tax-efficient.

“EOS is a particularly valuable cryptocurrency to work with on the Nexo platform as it is specifically designed to propel the adoption of crypto to new heights. At Nexo, we share in this common goal and are eager to watch the thriving of the EOS token and the consequent increase in Nexo’s addressable market, yet again expanding our quality crypto banking services amass worldwide.”Antoni Trenchev, Co-Founder and Managing Partner of Nexo commented on the largely anticipated new feature to the Nexo platform.

Renowned venture capitalist, co-founder of the EOS Alliance and user of Nexo’s services himself, Brock Pierce, discussed the exciting new development:

“EOS and Nexo joining ranks in this partnership is sure to be the perfect shape to add to the sacred geometric puzzle that is the blockchain industry. It is bound to bring people a lot of joy by enabling them to create their own opportunities for wealth and prosperity now by utilizing the unlocked value of their EOS without having to sell it.”

Following the addition of EOS to the list of already available cryptocurrencies for the company’s Instant Crypto Credit Lines™, Nexo will continue to pursue new partnerships in order to expand its coveted crypto banking services, thus boosting utility and adoption of crypto across the entire blockchain space.

About EOSIO

EOSIO is a next-generation, open-source blockchain protocol with industry-leading transaction speed and flexible utility. Introduced in May 2017, it has since been widely recognized as the first performant blockchain platform for businesses across the world.

Official Website: https://eos.io 

About Block.one 

Block.one is a software engineering company specializing in high-performance blockchain software. In 2018, it published EOSIO, a free, open-source protocol designed to bring speed, scalability, and ease of use to the secure and transparent fundamentals of distributed databases. Block.one’s venture capital arm, EOS VC, invests in companies, projects, and developers around the world leveraging EOSIO technology. 

Official website: www.block.one

About Nexo

Nexo is the world’s leading regulated financial institution for digital assets. The company’s mission from day 1 is to maximize the value and utility of digital assets by offering tax-efficient ‘Instant Crypto Credit Lines’, high-yield ‘Earn Interest’ products and ‘Send & Pay’ capabilities for our clients, while enjoying the $100 million custodial insurance and military-grade security of the Nexo Wallet. Since raising $52.5 million in 2018, Nexo has processed $1+ billion in 40+ fiat currencies for 500,000+ users across 200 jurisdictions.

Official website: https://nexo.io

 

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