XRP is Now a Collateral Option on Nexo
XRP is now an available collateral option on the leading digital currency-backed loan website Nexo (NEXO). Although an official announcement has not been made yet, various users who saw a deposit button appearing this week applauded the addition on Twitter.
XRP is now the fifth option for collateral on Nexo next to NEXO, BTC, ETH, and BNB. These options are acceptable collateral for quick loans up to 25% of holdings with a current interest rate for cryptocurrency-backed loans of 16%, which is halved for users who chose NEXO as their collateral.
Besides the new addition, Nexo revealed last week its highly anticipated dividend program, effective Dec. 15, that will distribute 30% of the profits to holders of NEXO.
Moreover, Nexo introduced a new partnership with CoinMarketCap, a leading cryptocurrency index website, in order to incorporate a “Get Loan” button straight onto the platform, along with a similar collaboration with Etherscan.