IOTA Added as Collateral on Bitfinex Borrow After Popular Vote

ROAD TOWN, British Virgin Islands, March 5, 2021, 10:00 AM UTC – Bitfinex, a state-of-the-art digital token trading platform, has added IOTA as collateral on Bitfinex Borrow after it was successful in a recent social media poll.

An overwhelming majority of Bitfinex’s growing community opted for IOTA, with the token gathering 87.6% of the votes in a social media poll.

“Our customers have spoken,” said Paolo Ardoino, CTO at Bitfinex. “IOTA’s success in our recent social poll is a testament to its enduring popularity and track record for innovation in the field of distributed ledger technologies.”

Bitfinex customers can now obtain loans of up to 70% of the value of their IOTA holdings in US Dollars (USD). Borrowers will have to manage their own risk of fluctuations in the IOTA price.

Bitfinex Borrow is a peer-to-peer (P2P) digital token loan portal that allows users to borrow funds from other users by using their cryptocurrency or fiat assets as collateral. IOTA is among 13 digital tokens available as collateral on Bitfinex Borrow, along with USD, euro and yen.

Bitfinex’s community-first approach extends to its ongoing commitment to democratizing access to financial markets, by providing advanced tools such as the Honey Framework and Bitfinex Terminal for the wider digital token ecosystem.

Important Notes

Nothing in this post is financial, investment or other advice. Nothing in this post is an offer to borrow or lend or the solicitation, recommendation or endorsement of any course of borrowing or lending. Any references in this post to returns are only hypothetical and not guaranteed.

* The rates, payment amounts and collateral price reflected represent an estimate, based on current market conditions, of the interest rates and amounts payable based on the loan amount, collateral and duration selected. These values are hypothetical and not guaranteed to be the same as, or reflective of the actual interest rate, payment obligations or collateral price applicable to a loan a user decides to take. This information is provided for information purposes only.

About Bitfinex

Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital tokens. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world. Visit Bitfinex to learn more.