CoinDCX launches its cryptocurrency loan program

CoinDCX , India's crypto-stock exchange, recently announced the launch of its cryptocurrency loan program called DCXlend . It allows its users to lend their crypto-currencies for interest.

Five crypto-currencies supported

This program is initially intended for holders of BTC, USDT, BNB, XRP and ETH whose monthly interest rates are equivalent to 2%, 1%, 1%, 0.75% and 0.75% respectively.

These rates vary dynamically and can reach a maximum value of 2%, depending on the market.

The BTC would have already reached its maximum rate because of the traders who would have launched massively in the margin trading, which explains the strong demand of the BTC lenders.

Since the crypto-stock market does not have a dedicated financing portfolio, funds are only released to crypto-users when margin trading is open.

Three loan periods are offered, namely 7 days, 15 days and 30 days.

A successful beta test phase

Sumit Gupta, CEO of CoinDCX, said the program appealed to nearly 120 lenders during the beta test.

"That's why we are scaling it while continuing to add new crypto-currencies. He says.

Cryptocurrencies provided by DCXlend will be used to leverage Dcxmargin's users.

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