Crypto.com Adds MCO, ETH and XRP to Crypto Credit as Collateral
HONG KONG, Sept. 9, 2019 /PRNewswire/ — Crypto.com, the pioneering payments and cryptocurrency platform, announced today the addition of Crypto.com’s MCO, XRP and Ethereum (ETH) to instantly secure a loan in Crypto Credit with 30% LTV.
Loan-to-Value (LTV) Ratio: The LTV for MCO, XRP, and ETH is 30% (e.g. If a user deposits 50 ETH as collateral and the market price of ETH is at $200 USD, then a user will get a loan amount of $3,000 USD worth of TUSD/PAX).
MCO Token Utility: Users with MCO Tokens staked enjoy a lower interest rate:
Notes: Interest begins from the day of initiation of the load and will continue while the loan is in effect. The LTV Ratio may be adjusted by Crypto.com.
For more details on Crypto Credit click, here.
Crypto.com was founded in 2016 to accelerate the world’s transition to cryptocurrency. Key products include: the Crypto.com App, the best place to buy, sell, and pay with crypto, the MCO Visa Card, a metal card with no annual fees, and the Crypto.com Chain, which enables users to pay and be paid in any crypto, anywhere, for free. Crypto.com is headquartered in Hong Kong with a 150+ strong team. For more information, please visit: www.crypto.com.
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