OKEx, one of the leading cryptocurrency spot and derivatives exchanges has recently supported TRX as collateral for their C2C loans.
The crypto exchange’s customer to customer loan system is a marketplace where both borrowers and investors could either take or give loans to each other with ideal interest rates, preferred loan duration with transparency and safety.
Let’s get to know more about their interesting C2C loan program.
What are OKEx C2C Loans?
— OKEx (@OKEx) December 11, 2020
OKEx C2C loans are an easy way to lend or borrow cryptocurrencies and it is a loan service that is 100% governed by investors and borrowers. They provide a transparent and straightforward cryptocurrency loan process to their users.
C2C Loans Borrowers can create loan requests on the C2C marketplace which they would need to provide their preferred loan amount and set their loan duration.
Borrowers will also have the option to customize their initial loan-to-value ratio (10% – 65%) and daily interest rate (0.01% – 0.1%).
For C2C investors, they can select which loan request to invest in and they will have the option on how much are they willing to lend to the borrower. Their platform also provides a way for the borrowers to repay the principal and interest to the investors.
OKEx C2C loans, in the event that the borrower misses the repayment for a period of time, the C2C loans system will close the position to repay the principal, interest, and overdue penalty interest at one time.
The supported cryptocurrencies as collateral are the following: TRX, XRP, LINK, BTC, ETH, LTC, BCH, and OKB. USDT is the only loan currency for OKEx C2C Loans at the moment and the company plans to support more assets in the future.
What is OKEx?
OKEx is one of the leading digital assets exchanges and they have been providing advance financial services to traders globally using their blockchain technology.
The leading crypto exchange company is currently serving over a million users in over 100 countries and they have over a hundred different tokens and futures trading pairs on their exchange.
With OKEx’s C2C loans, provides an alternative way for their users to lend and borrow cryptocurrencies. With TRX added as collateral to their loan service, plus they’re easy to use the platform and a speedy loan process, this separates them from the other crypto exchanges that provide loans to their customers.
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