Xapo Bank launches Bitcoin-backed dollar loan service with a maximum limit of $1 million
ChainCatcher news, according to Cointelegraph, Gibraltar-based crypto-friendly bank Xapo Bank has announced the launch of a Bitcoin-backed USD loan service, with loan amounts up to $1 million.
It is reported that a key difference of the Xapo Bitcoin loan product is that the bank does not require users to re-pledge the collateral for the loan, meaning its lending mechanism does not involve customers reusing BTC assets. Eligible Xapo customers can choose repayment terms of 30, 90, 180, or 365 days, and there are no penalties for early repayment.
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