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Bitfinex Borrow adds XRP, litecoin (LTC), EOS (EOS), and polkadot (DOT) as collateral

Bitfinex, a state-of-the-art digital token trading platform, has added XRP (XRP), litecoin (LTC), EOS (EOS) and polkadot (DOT) as collateral on Bitfinex Borrow, a peer-to-peer (P2P) digital token loan portal.

Borrowers will be able to obtain loans of up to 80 per cent of the value of their XRP, LTC or EOS holdings or up to 70 per cent of the value of their DOT holdings in either Tether tokens (USDt) or US Dollars (USD).

“Adding support for XRP, Litecoin, EOS and Polkadot on Bitfinex Borrow will provide our users with more freedom and flexibility when taking out loans from our highly liquid peer-to-peer lending markets,” says Paolo Ardoino, CTO at Bitfinex. “This also provides our users with additional avenues to utilise some of their favourite cryptocurrencies.”

At the date of this announcement, borrowing rates for these four cryptocurrencies are as follows: XRP 13.07 per cent Annual Percentage Rate* (APR), LTC 7.9 per cent APR, EOS 0.0192 per cent APR, DOT 0.0004 per cent APR.

Borrowers will first need to deposit enough collateral in XRP, LTC, EOS or DOT into their Margin wallet, before using these four cryptocurrencies as collateral to obtain a loan, which will be credited to the borrower’s Margin wallet. Borrowers can use the borrowed funds either on the Bitfinex platform or for any purchase outside of the Bitfinex platform.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin43,955 0.28 % 4.82 % 8.78 %
Ethereum3,116.8 0.02 % 8.76 % 13.33 %
Cardano2.260 0.24 % 10.66 % 9.45 %
Tether1.000 0.11 % 0.08 % 0.04 %
Binance Coin379.47 0.23 % 7.72 % 11.74 %
XRP0.9994 0.47 % 8.26 % 10.68 %
Solana147.25 0.40 % 14.27 % 7.16 %
Polkadot31.65 1.49 % 15.88 % 12.89 %
USD Coin1.000 0.09 % 0.08 % 0.04 %
Dogecoin0.2242 0.30 % 8.07 % 9.35 %

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