Bitfinex Adds IOTA as Collateral on Its Crypto Loan Portal

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Fri, 03/05/2021 - 13:46
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Yuri Molchan
Bitfinex Borrow has added IOTA token as collateral after a poll conducted on social media recently
Bitfinex Adds IOTA as Collateral on Its Crypto Loan Portal
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Major exchange Bitfinex has announced that, from now on, MIOTA will be used as collateral on its P2P crypto lending service, Bitfinex Borrow.

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Image via Twitter

IOTA added to Bitfinex list of loan collaterals

The token was recently voted for by the majority in a poll conducted on social media. From now on, users on the platform can borrow funds of up to 70 percent worth of the value of their IOTA balances in USD.

IOTA has been added to the list of other cryptocurrencies used as collateral. Among them are Bitcoin, Ethereum, LTC, XRP, ADA, EOS and LINK, and now also IOTA.

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Image via Bitfinex Borrow

Related
IOTA to Roll Out Smart Contracts Protocol Alpha to Bring IOTA into DeFi World

IOTA rolls out Smart Contract Protocol Alpha

As reported by U.Today the day before, IOTA had reached another milestone on its way to engaging with DeFi.

The platform is about to release the ISCP: the IOTA Smart Contract Protocol alpha version.

It will enable developers to create dapps, native assets, smart contracts, dexes, liquidity platforms on Tangle and more.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.

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