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

2 min read

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

With this collaboration, Nexo expands its 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/trondaoofficial

Media contact for TRON:

Ryan E. Dennis
[email protected]

About Nexo

Nexo is a leading digital assets institution. Committed to enhancing the value and utility of digital assets, the company offers a comprehensive suite of services including advanced trading solutions, liquidity aggregation from top trading venues, and flexible asset-backed credit lines. Since its inception in 2018, Nexo has processed $130+ billion for 7,000,000+ satisfied users across more than 200 jurisdictions. For more details, visit: nexo.com.

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