TRX News

Nexo partners with TRON to offer TRX-backed fiat loans – Invezz

  • This addition has offered crypto enthusiasts the first-ever TRX-backed fiat loans.
  • According to Nexo, partnering with TRON will help it pursue a DeFi-enhanced finance model.
  • Through this partnership, TRX holders will benefit from attractive yields and faster transactions.

Nexo, a top regulated financial institution for cryptocurrencies has joined hands with TRON to expand its Instant Crypto Credit Lines service. Through this collaboration, TRX has joined other leading cryptocurrencies through which Nexo offers staking services, allowing users to earn interest. These include BTC, ETH, XRP, BCH, LTC, EOS, LINK, XLM, USDT, USDC, PAX, TUSD, BNB, and DAI. Nexo unveiled this news on July 29 via a blog post, noting that this move has given birth to the first-ever TRX-backed fiat loans.

According to the blog post, this partnership will grant TRX holders access to Nexo’s Earn on Crypto product, which allows crypto adopters to earn up to 5% interest on crypto and up to 10% interest on stablecoins and fiat. Per Nexo, it joined hands with TRON because the coin’s ecosystem boasts flexible applications, a high throughput network, and a decentralized blockchain network.

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