Mercado Bitcoin Offers Crypto-Backed Loans in Brazil
CryptoNewsTerminal Staff13 Aug, 2024
Mercado Bitcoin Offers Crypto-Backed Loans in Brazil
Mercado Bitcoin, Brazil's leading cryptocurrency exchange, has unveiled a new loan product that enables users to secure Brazilian reals against their crypto assets. With interest rates starting from 1.39% per month, this service currently accepts Bitcoin (BTC) and Ethereum (ETH) as collateral. This innovative offering empowers users to leverage their crypto holdings for liquidity without having to sell them. By choosing Mercado Bitcoin's loan product, they can access funds while maintaining their crypto positions, potentially benefiting from future price appreciation. Mercado Bitcoin's foray into crypto-backed loans reflects the growing demand for financial products that bridge the gap between traditional banking and digital assets. By providing users with flexible and accessible credit options, the exchange aims to unlock the full potential of cryptocurrency and foster its adoption in Brazil.
