Bitfinex, the popular cryptocurrency token trading platform, today announced it has added Cosmos (ATOM) as collateral on Bitfinex Borrow, the platform’s peer-to-peer (P2P) digital token loan portal, after it was successful in a social media poll.
The majority of Bitfinex’s growing community chose ATOM, the native cryptocurrency for Cosmos’s decentralized network enabling data exchanges between different blockchains.
“We’re delighted to add ATOM to the suite of digital tokens available on Bitfinex Borrow after its poll success across our social channels,” said Paolo Ardoino, CTO at Bitfinex. “We anticipate a ready uptake for ATOM on Bitfinex Borrow, a service growing in popularity among our active user base.”
Users of Bitfinex Borrow can now obtain loans of up to 50% of the value of their ATOM holdings in US Dollars (USD). Borrowers will have to manage their own risk of fluctuations in the ATOM price.
ATOM is among 14 digital tokens available as collateral on Bitfinex Borrow, along with USD, euro, and yen.