Credissimo-Powered Nexo Crypto Lending Service Partners with Blockport
Users of Blockport, a fast-rising Blockchain-based platform that speeds up crypto transactions, now have a reason to smile following the company’s partnership with Nexo. Thanks to its newfound partner, Blockport users will henceforth have free access to cryptocurrency-backed loans and indeed an excuse for not trading their coins for fiat.
Nexo, the hub of the planet’s first crypto-based loans, ranks among the most trusted lenders serving the globe. This crypto lender is powered by Credissimo and services over 40 currencies spread across 200+ jurisdictions. It thus lends millions of dollars in loans to its growing list of clients.
Credissimo is one of the leading Fintech groups and has amassed over a million Europe-based clients throughout the past 10 years of its operations. It’s largely responsible for the successes of Nexo to date!
Blockport And Nexo – United By Their Common Purpose
Blockport has always held firm to its vision of connecting the modern, tech-based economy with the traditional, finance-backed one. It has constantly sought for decentralized, crypto-based ways that would benefit them. And now, this partnership will benefit all of its users, allowing them to hold on to their cryptocurrencies and later trade them for a profit.
Nexo isn’t just a mere lender of cryptocurrency loans. The company has been making massive steps in revolutionizing the quintessential banking and lending space, also the same as what Blockport has been striving for. And so, their shared vision of providing near-similar solutions is what projects the partnership to be a success.
How Nexo Works
The fact that Nexo is the pioneer in providing swift and hassle-free cryptocurrency loans is a testament to how much it’s dedicated to being the best in it. And the way it works is quite straightforward.
First, there’s a demo video detailing the entire process. However, aside from that, everything starts when you send your digital assets to Nexo wallet – it’s mandatory to do so. Once that’s done and the wallet has been successfully funded, Nexo Oracle robotically finds out your credit limit using the prevailing value of the cryptocurrency moved.
Soon after, the loan is released so that you can withdraw them straight to your bank account. The loans are issued without any restrictions, stringent terms and conditions or any lengthy waits.
When time to pay is nigh, a customer conveniently does so using fiat. The entire process entails wiring funds from the bank account via bank transfer. Alternatively, one can repay using crypto, provided the amount is equivalent to what’s owed.
There’s A Catch, However!
Any customer who repays the loan with NEXO tokens gets an insane incentive. As captured in the demo video, payments done using the tokens attract a 50% discount, similar to when one uses the tokens as the loan’s security.
In the future though, Nexo customers who now include Blockport users will potentially have a special Nexo Credit Card. The card will grant them the freedom to spend the funds directly without having to withdraw the funds.
Another great feature that will come with the cards is free to access to liquidity. And because Nexo does no credit checks, loans issued will be available at the customer’s wallet, fully secure.
Back To The Partnership, Blockport Users To Start Benefiting
As a result of the partnership, Blockport users will see the Nexo widget on the UI. They will only need to use it to borrow the loan as everything is still in its preliminary stage though. With time, the two will enhance the widget further, including allowing users to directly withdraw loans via the dashboard.
What The Future Holds
In the future, Nexo will most definitely accept Blockport Token and subsequently acknowledge it as a security for the loans. Also, there is a huge potential that Nexo platform will finally integrate Blockport to its system, something that will come to fruition due to their similar open APIs. When this happens, all Blockport Token holders will be free to get funded by merely having the loan.
Aside from their similar ambitions, the two partners aim to also be beneficial to each other. Blockport is hopeful that because Nexo shares the same virtues as them, both of them will leverage their massive growth opportunity at the same crypto industry.
It is a multinational company whose operations are driven by Credissimo, a top-dollar fintech company. It was the first lender to embrace XRP, part of the guarantees it recognizes. At the moment, however, this company supports over 40 fiat currencies and operates in over 200 jurisdictions. Nexo is
It’s also incredible that this pioneer lender has so far issued about a million dollars in dividend disbursements to holders of NEXO tokens. This crypto-based lender’s banking and lending capabilities, product integration, as well as, the long-term vision for growth will boost Blockport’s quest for growth.
Nexo can be regarded as the best-rounded hub for instant and hassle-free crypto-based loans given that grants its clients “the best of both worlds.” Users retain their cryptocurrencies and still have guaranteed access to instant cash. It is supported by the founder of TechCrunch, Michael Arrington; a testament to how ambitious a company it is.
Founded by Sebastiaan Lichter, its current CEO, Blockport essentially creates a safe and secure environment where transactions involving crypto can be conducted. It is a decentralized blockchain platform, designed to bridge and allow a seamless collaboration between the present-day, crypto-based economy and the traditional, finance-based one.
Using the platform, one can comfortably swap the leading cryptocurrencies for Euro. Recently, however, the platform’s native token, called BPT (Blockport Token), has allowed its users to enjoy a host of incredible incentives on trading fees.