WAX to be used as collateral on the Nexo lending platform
Don’t sell. Hodl and spend
WAX Tokens will be accepted as collateral for instant access to cash through crypto-backed loans from the Nexo lending platform by the end of 2018.
WAX Token holders will be able to keep their cryptocurrency assets, including gaming skins and crypto collectibles, while accessing cash loans on the Nexo platform.
The team behind Nexo has been providing instant loans to millions of people across Europe over the past 10 years. Nexo is the first company to offer instant cryptocurrency-backed loans, allowing clients to unlock the value of their owned digital assets.
Sweating your assets
“WAX is truly a blockchain pioneer with a vast community and Nexo is beyond excited to present them with the possibilities of our instant loans backed by the WAX Token,” said Georgi Shulev, Managing Partner of Nexo. “Nexo provides instant cash to the 400+ million online players, who want to keep their virtual goods and use them at a later stage, without selling them.”
“We are committed to providing the WAX community with the most dynamic experience possible, and Nexo helps us achieve this,” said Malcolm CasSelle, President of WAX and CIO of OPSkins. “WAX Token holders will be able to keep their cryptocurrency assets, such as gaming skins and Crypto Collectibles, while accessing cash loans on the Nexo platform.”
Nexo expects the integration to be complete in the second half of this year.