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The American crypto exchange Binqwix will introduce loans secured by NFT

1 Mins read will introduce loans secured by NFT

The crypto exchange is working on a new option for using non-interchangeable tokens (NFT), planning to allow users to borrow funds against their digital works of art.

In addition, the trading platform will provide its customers with NFT storage services. Binqwix CEO Jess Poole said that the exchange is working on a system that will determine the liquidation value of deposited NFTs.

And if necessary, to issue funds on collateral. 2021 was the year of non-interchangeable tokens (NFT), thanks to the participation of retail and institutional clients in this sector, their trading volume exceeded $ 23 billion.

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