VALR Launches 'Borrow' for Instant Crypto Loans
VALR, Africa's leading crypto exchange and infrastructure provider, has launched 'Borrow', a new product that enables users to access extra funds without selling their crypto assets. The service allows users to borrow against their holdings in Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies.
The borrowing process is fully automated with zero credit checks or traditional paperwork. Loan limits are calculated based on the value of the collateralized asset and its risk profile. Users enjoy complete flexibility, with no fixed repayment schedules or early settlement fees.
Borrow provides a fast, flexible way to take out a loan against crypto holdings, allowing users to maintain ownership of their assets and remain positioned for potential price growth. Funds are instantly credited to the user's VALR account and can be traded across VALR's markets, converted to fiat currency, withdrawn, or spent with VALR Pay.
VALR's Chief Product Officer, Badi Sudhakaran, said: 'Our goal with Borrow is simple: to give our users quick access to funds whenever they need them, without forcing them to sell the crypto they believe in.'