Nexo Adds XRP to Zero-Interest Credit Product

Nexo has expanded its Zero-interest Credit product to include XRP as a collateral option, allowing holders to borrow stablecoins without selling their tokens. The service also supports SOL, BTC, and ETH, with no margin calls or liquidation during the agreed loan term. Nexo uses a 30% loan-to-value ratio for XRP-backed loans, with a minimum threshold of 5,000 XRP and a maximum loan value of $5 million. Borrowers can receive proceeds in USDT or USDC and choose a fixed duration ranging from five days to 12 months.

The product operates differently from a standard open-ended crypto loan, with no liquidation during XRP price swings. However, if the borrower's position qualifies for renewal, they can repay the loan early. Each position is opened with a Minimum Repayment Price and Maximum Repayment Price, and users who enable stablecoin repayment can settle with USDT or USDC at maturity and retain their XRP if the price remains within the specified repayment range.

The addition of XRP to Nexo's Zero-interest Credit product gives holders another way to access liquidity without initially selling their tokens. The product has been successful, with more than $170 million in total Zero-interest Credit loan volume and a 66% borrower renewal rate.