Bitcoin News and Finance
CEX.IO LOAN Experiences Massive Institutional Demand With Over $100 Million of Loan Requests Skip to main content

CEX.IO LOAN Experiences Massive Institutional Demand With Over $100 Million of Loan Requests

CEX.IO LOAN Experiences Massive Institutional Demand With Over $100 Million of Loan Requests

PRESS RELEASE. Crypto-backed lending service CEX.IO LOAN that launched in October 2020 in select global jurisdictions, has been experiencing major demand, receiving over $100 million worth of loan requests to date. While the service has been widely popular among retail investors, most of the platform’s loan requests came from institutional investors.

According to CEX.IO LOAN, such an increase in demand can be attributed to the institutionalization of the cryptocurrency industry. Institutional investors, who have cryptocurrencies in their possession, regard it as a potential collateral for borrowing funds and actively utilise it as such. The borrowed funds are then used for further investment purposes.

In addition to featuring cutting-edge security and advanced anti-fraud measures, CEX.IO Group operates a regulated service, which has been licensed as a Distributed Ledger Technology (DLT) provider by the Gibraltar Financial Service Commission (GFSC) since last year. In addition to this, the Government of Gibraltar recently granted CEX.IO Limited a Money Lender License, allowing the firm to extend its ecosystem of regulated services with CEX.IO LOAN.

Institutional clients also prefer the company’s digital asset-backed lending service due to the convenience offered to users. On the CEX.IO LOAN platform, customers can borrow cash against their cryptocurrency assets in a quick and simple manner, without having to deal with credit checks or any unnecessary paperwork. To access the company’s instant crypto-backed lending service, new users have to open an account at the digital asset exchange and pass the mandatory Know Your Customer (KYC) and AML checks.

CEX.IO LOAN serves various cryptocurrency market participants, from retail investors, traders, and HODLers to startups, entrepreneurs, and large enterprises. As part of a flexible crypto-backed lending service, users can borrow any amount between $500 and $100,000 at competitive interest rates starting at 8.75% per year. Loan duration ranging from seven days to one year.

Currently, retail users can borrow funds against their Bitcoin (BTC) or Ethereum (ETH) assets. Based on the company’s data, the feature has already experienced high demand from VIP clients, with 41% of all CEX.IO LOAN customers borrowing cash against Bitcoin (BTC), 53% against Ethereum (ETH), and 6% against DeFi tokens.

The company has recently introduced a VIP-exclusive feature to offer flexible lending conditions and the ability to use decentralized finance (DeFi) tokens as collateral for institutional clients on the crypto-backed lending platform.

Furthermore, to best serve institutional customers, the requests and queries of VIP clients are handled individually by dedicated personal managers on the CEX.IO LOAN platform. Interestingly, 14% of CEX.IO VIP customers have already asked their personal managers about borrowing funds via the crypto-backed lending service.

“As institutional investors find the digital asset industry increasingly attractive, it’s a pleasure to serve them with our enterprise-grade instant crypto-backed loan platform. Security, convenience, and compliance are key priorities for corporate clients, which are features that we have been providing to all our clients in the rapidly growing CEX.IO ecosystem. Most importantly, we want to provide institutional clients with the best service. For that reason, VIP clients enjoy exclusive benefits, such as dedicated personal managers and flexible lending options, on the CEX.IO LOAN platform,” Anton Chashchin, Commercial Director for the CEX.IO LOAN service, stated.

In the announcement, the firm revealed further details about the size of the funds clients borrow on the CEX.IO LOAN platform. Based on the company’s data, while retail investors borrow $1,400 on average, VIP clients request larger-sized loans that vary in size, with the typical amount being $1 million or higher.

Institutional clients do not just borrow more but also need the funds for more extended periods which usually range between 6 and 12 months. According to the company, this phenomenon indicates a long-term strategy for VIP clients to manage their assets.

About CEX.IO LOAN

CEX.IO LOAN is a part of the CEX.IO Group, with this service provided by CEX.IO Limited, Gibraltar. Founded in 2013, CEX.IO operates one of the largest international exchanges of the cryptocurrency market, which has been featured among Crypto Compare’s ten best exchange services and Coin Metrics’ trusted service providers. With a multi-functional digital asset exchange, CEX.IO serves over 3 million customers worldwide with a team of over 250 professionals and offices in the UK, USA, Ukraine, Cyprus, and Gibraltar. From entry-level cryptocurrency users to professional traders as well as institutions and businesses, CEX.IO suits the needs of various crypto market participants with a reliable, high-security digital asset service.

For many years, CEX.IO Group has been working to expand its ecosystem with new solutions, including the B2B fiat-to-crypto exchange solution CEX.IO Direct, the technical solution for liquidity aggregation CEX.IO Aggregator, a verification and compliance platform Identance, and a staking service CEX.IO Staking.

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory