Friday, February 26, 2021

Crypto.com Exchange Launches VeChain (VET) and Chainlink (LINK) Lending Services

Crypto.com, a cryptocurrency exchange launched in 2016 and headquartered in Switzerland, has announced that it has launched VeChain (VET) and Chainlink (LINK) lending services.

With the new development, the teeming users of the exchange can now borrow against their cryptocurrency with a loan-to-value (LTV) ratio of up to 50% by depositing VeChain (VET) and Chainlink (LINK) as collateral.

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This was announced on 29th January 2021 via the official Twitter handle of the cryptocurrency exchange.

According to the crypto exchange, the lending service allows users to monetize their digital assets without the need to sell them. In this process, no need for credit checks and users can pay back partially or fully without early repayment fees.

The new development brings VET and LINK to join the likes of CryptoCom (CRO), Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) that are already supported collaterals on the crypto exchange.

Read Also: Chainlink (LINK) Exceeds $30 Billion in Term of Cumulative Transaction Volume

Going by the report, the supported loan currencies are USD Coin (USDC) and Tether (USDT), adding that the Loan-to-Value (LTV) Ratios are 25%, 33%, and 50%.

Moreover, users that choose to stake CRO can enjoy a lower annual interest rate compared to other digital assets supported as collateral for loans on the exchange.


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Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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