Bitfinex has extended the list of supported assets for collateral. From now on, the exchange's clients can use XRP, EOS, litecoin (LTC) and polkadot (DOT) as collateral for loans in tether (USDt) or US Dollars (USD) on Bitfinex Borrow.
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According to an official announcement, borrowers could obtain loans of up to 80% of the value of their XRP, LTC or EOS holdings or up to 70% of the value of their DOT holdings, in either USDt or USD. Currently, borrowing rates for the newly-added assets are as follows: XRP — 13.07% APR, LTC — 7.9% APR, EOS — 0.0192% APR and DOT — 0.0004% APR.
The exchange's clients can also make partial or full repayments on both the principal and interest of the loan by moving assets back into their margin wallet.
As iHodl reported in November, Bitfinex revealed Bitfinex Borrow, launched a new peer-to-peer (P2P) loan service. With the new service users can use their token holdings to secure a loan that can be used for trading or be withdrawn from the platform.
Borrowers can use bitcoin (EXANTE: Bitcoin) or ethereum (ETH) holdings as collateral to get a loan in Tether (USDT) or US dollars (USD). Users can also choose between a rate based upon the Flash Return Rate (FRR) or a fixed-rate loan.
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