VELIC, ICON partner and security-focused crypto finance platform, has just announced via press release the addition of a loan service starting this Tuesday, June 18th. This new announcement brings VELIC one step closer to its stated goal of building an extensive ecosystem of digital asset services into a single platform.
VELIC will offer its users various benefits, such as lower interest rates when paying with VELIC’s token, VELT, and reduced credit card fees in the from of crypto-rebates. VELIC will also provide a quick loan-to-trade process, wherein users can “instantly borrow and trade with the received loan proceeds on the VELIC platform”, which would “save redundant transaction fees and time, enabling real-time response in today’s rapidly changing, competitive marketplace.”
Loans will initially be offered in USDT, with an aggregate cap of 20,000 USDT per account, and an accepted form of collateral in Bitcoin (BTC). VELIC plans to introduce support for additional collateral types in the coming months.
“Through a strategic partnership with ICON, VELIC is adding stability as a platform, presently recording the 2nd-largest trading volume in ICX/BTC pair, according to the crypto currency data provider, Coingecko,” states the press release.