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Nexusdigital asset platform, has announced its Zero Interest Loan (ZiC) The product has been named “Consumer Lending Product of the Year” at the 10th annual FinTech Breakthrough Awards, according to a release shared by Finbold on March 19.
The product allows users to borrow against Bitcoin (BTCor Ethereum (The price of ETH) at 0% APR with no fees, using a fixed-term plan with pre-specified limits.
Zero-interest introduces a stable crypto-backed loan system
According to the company, Zero-Interest Credit is designed to eliminate margin calls and centralize the setting of fixed term and rate limits, which helps borrowers determine the outcome at maturity regardless of market fluctuations.
“Nexo is redefining crypto-backed lending with its Zero-Interest Credit technology, creating a climate change for crypto credit,” said Steve Johansson, Managing Director, FinTech Breakthrough. “Through Zero-Interest Credit, Nexo introduces an intuitive, transparent solution that reduces dependence on financial institutions. Nexo offers a sustainable and sustainable way to lend digital assets. We are pleased to recognize Zero-Interest Credit as the ‘Consumer Lending Product of the Year.’
The award comes as the crypto-collateralized lending market continues to expand, with the sector representing a $70 billion digital financial sector. Nexo said the changing nature of energy and risk management has increased the demand for sustainable lending models.
“Crypto credit has grown significantly in recent years, and lenders expect clear results and strong penalties,” said Elitsa Taskova, Chief Product Officer. “Zero-Interest Credit reflects this evolution by introducing a mature, integrated approach instead of a revolutionary machine, designed to be predictive across all markets. We are honored to see this innovation recognized and mark our fourth consecutive win at the FinTech Breakthrough Awards.”
The reason to initiateZero-Interest Loan has generated $140 million in total loan volume, with Nexo reporting a 76% loan-to-value ratio and an average of 4.28 renewals per user.
Photo courtesy of Nexo.
