XLM Now Available for Nexo’s Instant Crypto Credit Lines

3 min read
Asset Updates

At Nexo we believe in listening to the community and due to extremely popular demand in our ongoing poll — Stellar (XLM) is now the newest collateral option for our signature Instant Crypto Credit Lines (in addition to the existing options of BTC, ETH, XRP, BNB, LTC and NEXO).

Get an Instant Stellar-Backed Credit Line Now

As the world’s most advanced provider of instant credit lines with $700M already processed for 200,000+ users, Nexo’s instant credit lines offer significant advantages:

  • Minimum amount of $500, maximum — $2,000,000
  • Automated and guaranteed instant approval with no credit checks
  • Interest from 8% per year (APR) and only on what you use
  • No instalments, no minimum loan repayments
  • Same/next day free local bank withdrawals
  • Available worldwide in 200+ jurisdictions
  • 40+ fiat currencies (USD, EUR, JPY, etc.)
  • No hidden fees, no FX commissions

XLM is the tenth largest cryptocurrency and is the native currency of the Stellar network — an open source, distributed, and community owned network used to facilitate cross-asset transfers of value. Stellar aims to help facilitate cross-asset transfer of value at a fraction of a penny while aiming to be an open financial system that gives people of all income levels access to low-cost financial services.

Jed McKaleb, co-founder of Stellar commented on the new partnership on behalf of The Stellar Development Foundation:

We’re excited that Nexo is enabling cross-border lending and borrowing using Stellar-based stablecoins. We think this enables our mission of unlocking greater financial inclusion and access with the Stellar network.

Allowing XLM Holders to borrow against their assets rather than sell them when they need access to instant cash provides adds an incredibly powerful utility feature to XLM. It eases selling pressure and makes the HODLing XLM even easier for the long run. On top of that, Nexo’s instant credit lines are mighty tools for ensuring tax-efficiency.

As stated in an interview for CNBC by Nexo’s managing partner Antoni Trenchev, Nexo is seeing unprecedented demand for its signature Instant Crypto Credit Lines which attest for sustained, long-term profitability and ever-growing dividends for the NEXO Token Holders.

About Nexo

Nexo is the most advanced and trusted instant crypto lending provider on a global scale. It is the only blockchain company to provide its services in 40+ fiat currencies and more than 200 jurisdictions. Nexo gives digital asset holders the best of both worlds — instant access to cash and retaining ownership of their assets. All funds on the Nexo platform are secured by leading custodians.

About Stellar

Stellar is a fast, scalable, and uniquely sustainable platform for decentralized financial products and services. It is both a cross-currency transaction system, designed specifically for international settlement, and a decentralized global marketplace. Dozens of financial institutions and tens of thousands of individuals worldwide issue assets and settle payments on Stellar.

About The Stellar Development Foundation

The Stellar Development Foundation (SDF) is a non-profit organization founded in 2014 to support the development and growth of the open-source Stellar network. SDF and Stellar seek to unlock the world’s economic potential by making money more fluid, markets more open, and people more empowered. The Foundation maintains Stellar’s codebase, manages grant programs, and supports the technical and business communities around Stellar. SDF is also a speaking partner to regulators, developers, and the community at large.

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The only cryptocurrency account that lets you borrow instantly in 45+ fiat currencies and earns you daily interest on idle assets

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