Token Holders Will Be Able To Keep Their Cryptocurrency Assets, Including Gaming Skins And Crypto Collectibles, While Accessing Cash Loans On The Nexo Platform
Worldwide Asset eXchange (WAX) today announced the ability to use WAX Tokens as collateral for instant access to cash through crypto-backed loans from Nexo. WAX Token holders will be able to keep their cryptocurrency assets, including gaming skins and crypto collectibles, while accessing cash loans on the Nexo platform.
The team behind Nexo has been providing instant loans to millions of people across Europe over the past ten years. Nexo is the first company to offer instant cryptocurrency-backed loans, allowing clients to unlock the true value of their owned digital assets. Their platform is based on secure blockchain technology and all loan contracts are stored and replicated on the distributed ledger, making them immutable and verifiable. This brings an added level of transparency and security to clients.
“WAX is truly a blockchain pioneer with a vast community and Nexo is beyond excited to present them with the possibilities of our instant loans backed by the WAX Token,” said Georgi Shulev, Managing Partner of Nexo. “Nexo provides instant cash to the 400+ million online players, who want to keep their virtual goods and use them at a later stage, without selling them.”
“We are committed to providing the WAX community with the most dynamic experience possible, and Nexo helps us achieve this,” said Malcolm CasSelle, President of WAX and CIO of OPSkins. “WAX Token holders will be able to keep their cryptocurrency assets, such as gaming skins and Crypto Collectibles, while accessing cash loans on the Nexo platform.”
Created by top virtual goods marketplace OPSkins, WAX allows anyone to host their own marketplace to buy and trade securely and with low fees from anywhere in the world. WAX is designed to serve the 400 million gamers who already collect, buy, and sell in-game items with a simple exchange that leverages blockchain technology for transaction verification and recording.
Nexo is powered by Credissimo, a leading FinTech Group serving millions of people across Europe for over 10 years. Credissimo has always operated under the highest regulatory requirements and strictest supervision by multiple European Banking and Financial Services Regulators. Now the same Team and its Board of Advisors, empowered by the ever-growing community of Nexo supporters and enormous demand for the Instant Crypto-backed Loans, are unlocking the value of digital asset in a rapidly expanding token economy that will alter the very fabric of a $5 trillionmarket.
WAX is a functional utility token that supports a decentralized platform, enabling anyone to operate a fully functioning virtual marketplace with zero investment in security, infrastructure or payment processing. Developed by the founders of OPSkins, the world’s leading marketplace for online video game assets, WAX is designed to serve the 400+ million online players who already collect and trade video game assets and crypto collectibles. With the inclusion of the WAX simple exchange widget, gamers will have access to a worldwide market with blockchain trust and transaction verification.