Crypto Lending and Savings Platform Nexo Adds Support for Solana (SOL)
Leading cryptocurrency lending and savings platform Nexo today introduced support for SOL, the native coin of the high-speed, open-source blockchain platform Solana.
Nexo Supports Solana
In an announcement made today, Nexo said that its users can now buy, swap, borrow against, and earn up to 8% interest on their SOL coins.
Users will now be able to purchase SOL from Nexo and add it to their wallets within seconds. In addition, they can also receive as much as 8% interest on SOL with a daily payout. Users can also swap their SOL on the Nexo Exchange at market price and borrow against their SOL holdings from as low as 6.9% APR.
To buy SOL, Nexo users simply need to go to their Nexo wallet, add their bank details, and just purchase the coin. It’s that simple.
At present, the available trading SOL pairs at Nexo are SOL/BTC, SOL/ETH, SOL/USDT, SOL/USD, SOL/EUR, and SOL/GBP.
Earn SOL on Nexo
In addition to listing SOL, Nexo also unveiled support for SOL via its flagship Earn Crypto Interest suite. As mentioned earlier, users can earn as much as 8% interest paid daily on their SOL holdings on Nexo.
Further, users can also get instant cash against their SOL via Nexo’s Instant Crypto Credit Lines that allows them to borrow cash or stablecoins by using their SOL as collateral from as little as 6.9% APR.
Users can borrow as little as $50 and up to $2 million whenever they want. Nexo processes user requests automatically that get approved within seconds with no credit checks. Further, there is no requirement for installments or minimum payments as users can choose to pay off their balances partially or fully whenever they want.