Leading blockchain regulated financial and crypto lending institution, Nexo announced Tuesday; it has significantly reduced the rates on its signature Instant Crypto Credit Lines.

As <a href="https://www.businesswire.com/news/home/20191022005758/en/Nexo-Cuts-Borrowing-Rates-5.9-APR-Securing">reported</a>, the decision to lower the rates is coming after the firm secured long-term cost-efficient institutional financing, thereby making Nexo the only platform to offer the lowest APRs (Annual Percentage Rates) in the <a href="https://www.cryptoknowmics.com/crypto/blockchain-is-safe-fast-and-transparent-why-then-is-not-used-by-everybody/">blockchain</a> space.

"The rate cut is the result of the company's ongoing effort to bring down its funding costs by utilizing Nexo's extensive network of financial partners and access to institutional liquidity," the firm added.
<h2>Nexo's Instant Crypto Credit Lines at 5.9%</h2>
The APR now starts at 5.9% on Nexo's Instant Crypto Credit Lines, with no hidden fees. Also, Nexo noted they removed minimum repayment requirements and credit checks, which usually determine the maximum flexibility for clients to borrow against their crypto assets in over 40 fiat currencies.

Moving further, the firm noted it doesn't support additional fees, as an extension of its #ZeroFees initiative, unlike many other lenders who usually charge up to 4% in origination fees and 5-13% in liquidation fees, in the same space.

Ultimately, the reduction means а a larger volume of business, which, of course, will ensure fast-growing dividend payments for NEXO Token Holders.

"As the tokenization of the world progresses further, the improved interest rates guarantee that Nexo's cutting-edge products are utilized by an even wider audience across the globe," Nexo wrote.

Notably, the company's efforts to improve rates for its 300,000+ user's worldwide, and to offer credit lines with a minimum amount of $500 to $2 million, is in no doubt, a milestone along the path in making decentralized financial services more inclusive.

Following the success of its products with cryptos and stablecoins, the firm is kicking off the same efficient mechanism of financing for tokenized gold. The company is making gold-backed borrowing now accessible for as little as $500 to its users, an offering which was previously reserved for the ultra-wealthy.

Nexo Reduces Borrowing Rates to 5.9% APR After it Secured Cost-Efficient Financing

Ibiam Wayas is an optimistic crypto news reporter who also enjoys tech writing. He is an introvert who spends much of his time on the internet studying facts that will help him excel in the digital/cryptocurrency space.

Nexo Reduces Borrowing Rates to 5.9% APR After it Secured Cost-Efficient Financing

Top Picks