Crypto.com today announced the launch of cryptocurrency-backed loans on the Crypto.com Exchange. Users can now receive an instant loan when using their crypto as collateral.
Highlights
- Deposit accepted cryptocurrency and receive a loan instantly;
- Repay loans partially or in full at any time without early repayment fees;
- Interest rates as low as 1% APR, stake Crypto.com Chain token CRO to get the best rates.
With Lending, both retail customers and institutions can choose loan terms that suit them, and make repayments based on the corresponding initial loan-to-value (LTV) ratios.
Key Loan Terms
| Loan Duration | Maximum duration: 12 months Note: Users can repay any amount at any time. | ||||||||||||
| Number of Loans | Borrow up to 3 outstanding loans at a time. | ||||||||||||
| Collateral Currencies | BTC, ETH, LTC, CRO Crypto.com plans to continually add new cryptocurrencies here. | ||||||||||||
| Loanable Currencies | USDC, USDT Crypto.com plans to continually add new cryptocurrencies here. | ||||||||||||
| Minimum Borrowing Amount | 100 USDC or 100 USDT | ||||||||||||
| Maximum Borrowing Amount (In total at a time) |
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| Interest Rates | Preferable loan interest rates with higher CRO Stake or lower LTV:
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Note: The above table shows simple interest rates, which means the interest charges only apply to the loan’s principal amount, and are not compounded on earlier interest charges.
