Young exchange plans to unite the crypto industry with traditional financial markets.
SINGAPORE, September 23 – Bitrue, a crypto exchange with financial services, has today announced plans to offer loans to users who pledge cryptocurrency held on their platform.
Starting September 30, Bitrue users will be able to pledge BTC, XRP, stablecoins and more to receive loans in BTC, XRP, ETH and USDT. Over time support for more altcoins will be added as collateral and loan options to maximize availability of the service among the entire crypto industry. Loans will be provided at low interest rates and with high loan-to-value ratios.
“Bitrue’s goal from the beginning was always to bridge the emerging crypto markets with the traditional financial services sector” said Curis Wang, CEO of Bitrue. “Now that the Bitrue exchange has gained a loyal user base and trust within the industry, it’s a perfect time for us to launch the first of our initiatives. We find this particularly exciting as it’s an opportunity to provide access to financial services to all people, regardless of whether they’re rich or poor or where they’re located in the world.”
Revenue generated from the loans will be used to support the existing Power Piggy function, the wildly popular feature which provides users with a risk free method of generating up to 10.3% yearly interest on the coins they invest. Bitrue Loans will be offered at a daily basic interest rate of 0.04% with no limit to the repayment period of the collateral. As the platform continues to develop and enter phase 2 of its lifecycle, users will be able to enjoy reduced repayment rates if they possess sufficient amounts of the platform token Bitrue Coin (BTR), and also access a variety of digital asset management and DeFi services coming soon.
About Bitrue
Bitrue is a growing cryptocurrency exchange and digital asset management service that is disrupting the industry by adapting traditional financial services to the newly emerging crypto markets. Launched in July 2018, Bitrue offers worldwide services to cryptocurrency investors with offices across the globe. Bitrue has become one of the top exchanges within the XRP community, supporting over 50 XRP pairs and has become one of the top 5 exchanges globally ranked by XRP volume, owing to significant market share in the UK and other Western markets. Bitrue is backed by strong communities and is quickly becoming the one-stop platform for crypto traders around the world with its latest addition of fiat purchases. More information can be found at https://www.bitrue.com.