The Nexo community has always been a source of inspirаtion, helping us generate new ideas about features that make the already seamless lending experience with Nexo even better.
We are pleased to announce the first result of the strategic partnership between the world’s most advanced crypto lender Nexo and the company that is restoring confidence in the stablecoins space TrustToken.
TrueUSD is now available both as a collateral and repayment option for Nexo’s instant crypto credits, making Nexo the official TrueUSD lending partner.
Nexo clients can deposit TrueUSD and borrow against it with a 95% Loan-to-Value (LTV) ratio which provides an additional utility feature for the stablecoin. TrueUSD can further be used to fund existing loans, with no price risk for the customer.
These latest developments come on top of the capability to earn up to 6.5% interest per year on TrueUSD and other stablecoins with a 1-to-1 USD conversion protection guaranteed by Nexo.
The Three Steps That Make Your TrueUSD Work for You
- Open or log into your free and secure personal or business Nexo Wallet
Nexo has a crypto custodian insurance policy of up to $100M, provided by BitGo and Lloyd’s of London. See the details here.
- Add crypto assets to your Nexo Wallet
No minimum amount is required. Аs soon as the transaction is confirmed on the blockchain, you instantly start earning interest.
- Enjoy your high-yielding passive income as the increasing daily interest income accumulates in your Nexo Wallet.
The power of compounding ensures that every day a larger interest amount is credited into your account.
TrueUSD has quickly gained traction and has recently surpassed the 200 million market cap threshold. TrustToken, the company underpinning it, offers regular attestation of its escrowed balance, 1-for-1 US dollar redemption and legal recourse against any misappropriation of the underlying assets. These concepts have been welcomed by a very receptive blockchain community.
The partnership between TrustToken and Nexo has come naturally, as the two companies are among the rare-breed of blockchain companies to have delivered working solutions to the real problems that plaguing the crypto community.
As a profitable enterprise from day 1, Nexo is distributing US$912,071.00 to NEXO Token Holders on December 15, 2018 via an interim dividend.