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Wirex Launches Crypto-Backed Credit

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Wirex, the leading payments platform, launches Wirex Credit, a Crypto-Backed Credit, offering highly competitive interest rates and no origination fee for crypto-backed loans.

Wirex, a worldwide digital payment platform and regulated institution, launches crypto-backed credit. Users can easily borrow up to $100,000 in stablecoins, with a loan to value (LTV) of up to 80% within the Wirex app.

Crypto loans have become hugely popular in recent months due to their advantages over traditional loans. Wirex’s core aim is to bring the benefits of DeFi to the mass market, and Wirex Credit adds new use cases for crypto to their 5 million customers

The product enables users to gain access to credit regardless of market conditions. Whether that earning funds from investing into DeFi protocols or purchasing a getaway using the Wirex card. Furthermore, as the first company in the world to develop a crypto-enabled card, it’s link up to the award-winning Wirex app. Meaning credit can be spent at over 80 million locations globally, in-store or online, wherever Visa or Mastercard is accepted.

Wirex Credit is set to shake up the competitive landscape, offering a near-instant loan of up to $100,000 issued in USDC, USDT and NXUSD, with a LTV of up to 80% within the Wirex app. There will be no origination fee, set up fee, or requirement for credit and affordability checks, and users can borrow up to 5 lines of credit at once. However, Wirex offers complete flexibility; customers can pay back at any time and they are only require to pay interest for the days that the credit line is live.  Where credit health can easily be check in-app.

About Wirex

Wirex is a worldwide digital payment platform and regulated institution that has forged new rules in the digital payments space. In 2015, the firm developed the world’s first crypto-enabled payment card that gives users the ability to seamlessly spend crypto and traditional currencies in real life.

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SOURCE

https://www.prnewswire.com/news-releases/wirex-launches-crypto-backed-credit-301580265.html

 

 

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