Lending platform Nexo will add support for Telegram’s Gram token

In Product

As a token’s utility expands, it becomes more powerful. Gram is already stacking up to become a prominent force in the cryptocurrency world.

The Telegram Open Network will put crypto in the hands of more than 200 million active Telegram users. The Gram token will have vast utility across the Telegram ecosystem, but it just keeps getting better. Lending platform Nexo is expanding the utility of the Gram token by giving Gram HODLers instant access to loans backed by Gram.

As the hosts of the first public sale of Gram tokens, we are delighted to see additional utility being added to the Gram token from a reputable company like Nexo.

“The Gram token is one of the most sought-after assets in the crypto space right now. We are pleased to see other fintech companies recognising the significance of the exceptional work Telegram is doing to bring about mass adoption of cryptocurrency. Crypto traders will benefit from being able to use Gram tokens as collateral on Nexo. Support from Nexo further adds to the utility of Gram, which is being made available to the public for the first time on Liquid on July 10.” ~Liquid CEO Mike Kayamori.

Buy on Liquid, use on Nexo

Nexo adding support of Gram increases the strength to the upcoming TON ecosystem. Gram tokens will be used as a collateral option for Instant Crypto Credit Lines and the upcoming Nexo Credit Card.

If you’re a Gram holder in need of cash, you will be able to borrow against your holding rather than selling. It’s great if you’re in a tight spot but you want to continue to be a holder.

With Nexo adding support for the Gram token as collateral for its signature Instant Crypto Credit Lines™, Gram holders will have access to a number of benefits, including:

  • Clients’ funds are secured by leading audited custodian BitGo with 100M USD insurance for custodial crypto assets.
  • Fully automated instant loans from as low as 500 USD up to 2,000,000 USD.
  • Automated and guaranteed loan approval with no credit checks.
  • Interest from 5.9% per year (APR) only on what you use.
  • No installments, no minimum loan repayments.
  • Same/next day free local bank withdrawals.
  • 500M USD already processed for 200,000+ Nexo users.
  • No hidden fees, no FX commissions.
  • Available worldwide in 200+ jurisdictions.
  • 45+ fiat currencies (USD, EUR, JPY, etc.).
  • Nexo’s instant credit lines are a powerful tool for creating tax-efficiency.
  • Nexo’s Mastercard will let Gram holders utilize Nexo’s Credit Line for instant.
  • ATM withdrawals and real-world purchases.

Gram token integration will occur once Gram becomes tradable later this year.

Don’t forget, the Gram token goes on sale to the public for the first time on July 10. Be ready.

Get Ready For Gram

This content is not financial advice and should not form the basis of any financial investment decisions nor be seen as a recommendation to buy or sell any good or product. Trading cryptocurrency is complex and comes with a high risk of losing money, particularly if you trade on leverage. You should carefully consider whether trading cryptocurrencies is right for you and take the time to learn how trading works and decide how much money you are prepared to lose.

WRITTEN BY

Liquid

Providing liquidity for the crypto economy.