XRP now accepted as collateral by crypto-loan firm Nexo

24 Oct, 2018
by David Borman
XRP now accepted as collateral by crypto-loan firm Nexo

Crypto-loan company Nexo has recently announced on their blog that they will be accepting XRP as collateral on loans. This comes apparently as the result of community outcry for such support.

Nexo basically lets you borrow a loan using your existing crypto as collateral. This way you don't have to sell it or deal with taxes on its sale. The platform already supports many popular cryptocurrencies, and now XRP has joined the ranks.

Nexo has a page on its site in which users can vote on which coins will be supported next. It looks like Litecoin and Bitcoin Cash are both high in the rankings for future additions.

The news comes as other companies are also exploring allowing crypto to be used as collateral. The idea seems to be gaining traction, and may be enticing to some crypto investors who need quick cash but don't want to sell.

As more and more crypto-loan companies pop up, stick with Chepicap for all updates!

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Read more about: Ripple (XRP)


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