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TRON Users May Now Take out First-ever TRX-backed Fiat Loans with Nexo

Jul 29, 2020·1 min read
Press Releases
TRON Users May Now Take out First-ever TRX-backed Fiat Loans with Nexo

London, July 29, 2020 — Nexo, the leading regulated digital assets institution now offers TRON’s TRX token as collateral, creating the first ever TRX-backed fiat loans for Nexo’s customers.

With this collaboration, Nexo expands its Instant Crypto Credit Lines to give TRX users access to Nexo’s Earn on Crypto product, a high-yield interest service where users may receive up to 10% interest on digital assets.

TRON ecosystem’s versatile use cases, high-throughput network, and decentralized blockchain make it a progressive partner for Nexo.

“When blending elements from DeFi into CeFi you get the best of both worlds. TRON’s blockchain technology enables developers to create smart contracts and decentralized applications (DApps), displaying how the TRX integration is yet another step towards the DeFi-enhanced centralized finance model Nexo is pursuing,” said Antoni Trenchev, Co-founder and Managing Partner of Nexo.

Adding TRX to Nexo’s credit lines increases the cryptocurrency’s utility features, eases selling pressure, and makes HODLing stress-free. TRX-backed loans allow investors to borrow against their assets rather than selling them while benefiting from Nexo’s unrivaled interest rates and superior tax-efficient service.

"We support Nexo's vision for blockchain technology exploration in CeFi to DeFi," says Justin Sun, Founder of TRON and CEO of BitTorrent. "Nexo and TRON marry desirable attributes from two different philosophies. Together, TRX users now enjoy attractive yields and faster transactions with secure infrastructure. Our mission is to bring blockchain to everyone and Nexo empowers our ability to do so."

TRX is the native token of the TRON blockchain. The network’s throughput, scalability and effective smart contracts allow it to consistently handle more than 2,000 transactions per second.  

About TRON

TRON is dedicated to creating a boundary-free internet that inspires innovation across industries. TRON,  one of the largest blockchain protocols, offers high throughput, high scalability, and high availability for Decentralized Finance (DeFi) and all Decentralized Applications (DApps). The ecosystem is governed by Super Representatives and the community.

You can learn more about TRON on our website tron.network and our social channels:
Twitter: https://twitter.com/TronFoundation
Facebook: https://www.facebook.com/tronfoundation

Media contact for TRON:

Ryan E. Dennis
press@tron.network

About Nexo

Nexo is the world's leading regulated digital assets institution for digital assets. The company’s mission is to maximize the value and utility of cryptocurrencies by offering tax-efficient ‘Instant Crypto Credit Lines’, high-yield ‘Earn Interest’ products, ‘Send & Pay’, and sophisticated trading and OTC capabilities, while providing the $100 million custodial insurance and military-grade security of the Nexo Wallet. Nexo has processed $3+ billion for 800,000+ users across more than 200 jurisdictions.

Official website: https://nexo.io

Media contact for Nexo:

Sophie Parker
sophie@yapglobal.com

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