Platform for instant crypto loans lowers borrowing rates on its credit line service after having secured long-term cost-efficient financing.
Nexo, a crypto lending institution, announced that it has lowered the interest rates on its instant crypto credit lines.
Lowest rates in the blockchain ecosystem
In a press release published Oct. 22, Nexo announced that it was lowering interest rates on its credit line service after securing long-term cost-efficient financing. The instant lending platform claims that they now offer the lowest rates in the ecosystem.
Nexo’s crypto credit lines reportedly start at 5.9% with no minimum repayment requirements and no credit checks and are available across more than 200 jurisdictions.
Nexo allows digital asset holders to borrow against a basket of an array of digital currencies such as Bitcoin (BTC), Ether (ETH), Ripple (XRP), Litecoin (LTC) and others, without losing ownership of their assets.
The lending platform reported in August that it had paid its token holders a total of $2,409,574.87 in dividends, reaching an annualized dividend yield of 12.73%. With a user base of over 250,000, Nexo’s dividend yield is purportedly higher than every dividend-paying stock listed on the S&P 500 market index.
During the same month, Nexo launched a Mastercard-branded cryptocurrency credit card, which they claimed to be the first card in the world that enables users to spend the value of their cryptocurrency without in fact spending it.
Cointelegraph previously reported that Nexo’s competitor, cryptocurrency lending and borrowing platform Celsius Network, topped $300 million in deposits in just 12 months and completed over $2 billion in coin loan origination. In total, Celsius completed over 160,000 coin loan trades and distributed over $3 million in interest payments. Celsius claimed that it had become the fastest-growing lending platform in the world.
Silvergate Bank’s Silvergate Capital Corporation is examining the possibility of offering cryptocurrency loans.
The holding company of cryptocurrency-friendly Silvergate Bank, Silvergate Capital Corporation, announced that the firm plans to offer cryptocurrency-collateralized loans.
In an S1/A form filed with the United States Securities and Exchange Commission on Aug. 15 the bank notes:
“We believe there may be attractive opportunities to provide digital currency borrowing facilities to deepen our high quality customer relationships and further enhance our interest income.”
In the document, the firm states that it found significant demand for cryptocurrency-related borrowing. The service would consist of the client providing crypto assets or U.S. dollars as collateral in exchange for significantly greater credit.
The bank would then “set a conservative aggregate lending amount to refine the product, and will develop a risk framework to minimize risk and further develop lending models over time.”
The company stated that it anticipates to offer the crypto-related credit product to institutional clients later this year. Silvergate also notes that it found significant desire from its clients for the bank “to be involved in the custody and transfer of digital assets between customers.”
Owler estimates Silvergate Bank’s annual revenue to be $30 million.
As Cointelegraph reported in March, Silvergate Bank signed on a slew of new cryptocurrency customers including cryptocurrency exchanges and miners, custodians and global investors, among others in the fourth quarter of 2018.
In 2018, Silvergate’s deposits derived from cryptocurrency customers reportedly increased by $150.4 million, or around 11.4%.
Digital asset lender DrawBridge Lending announced that it received funding from cryptocurrency commercial bank Galaxy Digital.
Digital asset lender DrawBridge Lending (DBL) announced that it received funding from cryptocurrency commercial bank Galaxy Digital.
A fiat-crypto lending and investing service
DrawBridge announced in a press release published on Aug. 8 that it received funding from Galaxy Digital, further strengthen DBL’s fiat-crypto lending and investing capabilities.
Furthermore, the two firms reportedly plan to jointly develop a co-branded special-purpose loan funding vehicle to provide structured financing against institutionally held crypto assets. Michael Novogratz, CEO and founder of Galaxy Digital, commented on the development:
“The institutionalization of digital assets is still relatively nascent despite increasing momentum and interest from a number of respected firms and industry players. […] As we look to the future, we recognize the benefit of aligning ourselves with smart and innovative strategic partners who know how to effectively execute in the institutional space. The team at DBL fits the bill in this regard.”
A regulated crypto lender
Per the report, DBL is a licensed lender and is able to provide commercial loans in 49 states and Washington, is a registered commodity pool operator and commodity trading advisor with the national futures association.
Christopher Ferraro, President of Galaxy Digital, is quoted in the release stating:
“Investors are absolutely opening up to the idea that a new asset class is being formed.”
As Cointelegraph reported earlier today, San Francisco-based crypto lender (and DBL competitor) Dharma has decided to pause new deposits and loans on its platform.
Crypto lender BlockFi secured $18.3 million in a funding round led by a PayPal co-founder’s VC firm Valar Venture.
American cryptocurrency lender BlockFi has secured $18.3 million in a funding round led by Valar Ventures.
The Series A funding round saw participation from a number of crypto-focused investors, including Winklevoss Capital and Galaxy Digital, according to a press release shared with Cointelegraph on Aug. 6. Other investors included ConsenSys Ventures, Akuna Capital, Avon Ventures, Susquehanna, CMT Digital, Morgan Creek and PJC.
Valar, founded by PayPal co-founder Peter Thiel, makes its first crypto investment
Per the report, Valar, which led the BlockFi’s new funding round, has made its first investment in a crypto-related company. Based in New York, Valar is one of three venture funds co-founded by PayPal co-founder Peter Thiel, who previously invested in crypto projects. Valar is known for investing in prominent fintech companies such as money transfer service Transferwise, mobile banking solutions provider N26, Qonto and Petal, the press release notes.
According to the report, BlockFi was the first company to receive institutional funding for crypto-based loans in United States dollars, in the form of a $50 million lending facility from Galaxy Digital. The new capital will reportedly be used to expand the array of products on BlockFi’s existing platform that includes interest-earning accounts for Bitcoin (BTC) and crypto-backed USD loans.
Earlier this year, BlockFi announced it had over $53 million in customer crypto assets under management.
Recently, Cointelegraph reported on Germany-based Bitcoin bank Bitwala securing roughly $14.5 million in a funding round that saw investment from firms including Sony Financial Ventures.
Instant crypto loans firm Nexo and international payment system corporation MasterCard are jointly launching a cryptocurrency credit card.
Instant crypto loans firm Nexo and international payment system corporation MasterCard are jointly launching a cryptocurrency credit card. The development was announced in a press release shared with Cointelegraph on Aug. 2.
Nexo claims the Nexo Card to be the first card in the world that enables users to spend the value of their cryptocurrency without in fact spending it. In addition, the card does not consider annual and monthly and foreign exchange fees. Describing the operational concept of the card, Nexo said:
“When using the Nexo Card to purchase goods and services, you actually pay using your Nexo flexible open-ended revolving credit line that is backed with your crypto holdings and thus not selling any of them, which is giving you the freedom to spend today and sell your holdings whenever you want in the future to pay back the loan.”
Earning interest on crypto borrowings
Nexo also provides a fully automated Instant Crypto Credit Lines service, which allows crypto owners to borrow against a basket of an array of digital currencies such as Bitcoin (BTC), Ether (ETH), Ripple (XRP), Litecoin (LTC) and others.
Nexo further lets users to earn interest on fiat currencies such as the United States dollar, euro, British pound, and stablecoins.
Yesterday, Cointelegraph reported that cryptocurrency lending and borrowing platform Celsius Network topped $300 million in coin deposits in the course of 12 months and completed over $2 billion in coin loan origination. Celsius claims that it has become the fastest growing lending platform in the world. In May, crypto asset management company BlockFi announced that its interest-bearing accounts now support the Gemini Dollar (GUSD). BlockFi noted that it also offers GUSD as a U.S. dollar funding option and as collateral from institutional cryptocurrency borrowers.
Cryptocurrency lending platform Celsius Network has topped $300 million in coin deposits in 12 months and over $2 billion in loans.
Cryptocurrency lending and borrowing platform Celsius Network has topped $300 million in coin deposits in the course of 12 months and completed over $2 billion in coin loan origination, according to a press release published on Aug. 1.
“Fastest growing lending platform”
Since July 2018, when the Celsius started lending operations, it has originated more than $2.2 billion worth of coin loans and surpassed $300 million AUM in customer deposits and collateral from loans under management. In total, Celsius has completed over 160,000 coin loans trades and distributed over $3 million in interest payments.
As the company further explains, its customers may earn interest by transferring their coins to their Celsius Wallet and borrow United States dollars against their cryptocurrency collateral. The release also reveals:
“Celsius paid more in earned BTC and ETH than anyone returning up to 80% of its revenue to depositors, compared with Binance BNB returning 20% of profit as buyback and Nexo distributing 30% as a dividend.”
Cryptocurrency lenders gain traction
As reported last September, Celsius became the manager of the Sustainable Development Goals Impact Fund (SDG Impact Fund) within the United Nations’ Sustainable Development Goals initiative. Within the partnership with Fifth Element, Celsius Network reportedly looked to “bring power back to the people” by providing banking services typically reserved for top tier asset owners.
Recently, Bitmain co-founder and former CEO Wu Jihan officially launched a new crypto trading platform dubbed Matrixport that purportedly offers over-the-counter trading, lending and custody.
Cryptocurrency asset management company BlockFi announced that it has opened interest-bearing accounts for the gemini dollar.
Cryptocurrency asset management company BlockFi announced that its interest-bearing accounts now support the gemini dollar (GUSD) in a post published on May 29.
Per the announcement, GUSD deposits will see a yearly yield of 6.2%, paid in the stablecoin in question. BlockFi notes that it also offers GUSD as a U.S. dollar funding option and as collateral from institutional cryptocurrency borrowers. BlockFi CEO Zac Prince commented:
“The implication of adding this functionality is that you could see crypto companies like BlockFi compete with traditional fintech challenger banks by taking advantage of assets like Bitcoin for on-ramps in to a dollar-based blockchain financial ecosystem.”
BlockFi notes that the accounts will not be available to United States-based customers due to a lack of regulatory clarity surrounding stablecoins backed by fiat currency. The firm states that it is working with legal counsel to add support for U.S. clients later this year.
Some in the cryptocurrency industry have criticized BlockFi, as its terms and conditions allow it to determine the interest rate each month at its sole discretion. David Silver of Silver Miller Law firm said the firm does not advertise what it guarantees, which could be confusing for users.
In March, BlockFi decreased the interest rates for its top tier bitcoin and ether accounts. In May, the lending platform further lowered interest rates for some of tis ether accounts as the lending environment for ether had purportedly floundered.
Decentralized credit and loans: better for borrowers and better for the economy.
In the feverish quest to decentralize anything even remotely open to decentralization, one of the most promising areas is finance and the financial industry. This shouldn’t be too surprising, given bitcoin and the origins of blockchain technology, but at a time when even babies are being put “on the blockchain,” the emergence of decentralized finance (DeFi) provides welcome proof of crypto’s real utility and applicability.
And while DeFi is covering a wider range of areas — from remittances to derivatives and investments — its most promising sector involves credit and lending. That’s because, thanks to the openness, security and transparency of blockchains, it’s possible to make loans and credit available to a larger pool of people than ever before, while the interoperability of blockchains opens up the possibility for creating a spectrum of new lending products and services.
But even though the sector has expanded considerably over the past year or so, decentralized finance still needs to put in plenty of work before it can compete with legacy financial systems. At the same time, users need to be careful when using early stage and untested DeFi platforms and services, just as they need to be aware that not all DeFi systems are truly decentralized.
The big decentralized lenders
DeFi might be a relatively new and ill-defined term, but its meaning is simple, referring to the use of blockchains, cryptocurrencies and/or smart contracts in providing financial services to clients. And when it comes specifically to loans and credit, there are numerous platforms, services and companies that are harnessing decentralized ledger technology for the purposes of lending services.
The most well known of these is MakerDAO, which lends its stablecoin — DAI — to users, who gain their loans by depositing ether (ETH) with the Maker system as collateral. According to the recently launched DeFi.Review website, it’s the biggest decentralized finance platform by a comfortable margin, having roughly $508 million in ether locked up in its platform. Behind it is EOS REX, which has deposits of EOS worth around $437 million, and which lends to users who want extra EOS in order to stake the cryptocurrency for extra CPU/NET bandwidth on the EOS blockchain.
Both of the platforms above are infrastructural, in that they serve primarily to support crypto economies and ecosystems — be this the EOS blockchain in the case of EOS REX or various cryptocurrency markets in the case of DAI. As such, they arguably don’t satisfy the common sense or traditional definition of lending and credit, given that they aren’t awarding loans to the general public. Meanwhile, the fact that they both account for approximately 86% of the total amount of assets locked up by DeFi platforms (according to DeFi.Review) is an indicator of how young the sector still is.
Why lending is better when it’s decentralized
Nonetheless, as young as DeFi lending may be, there are many other platforms besides MakerDAO and EOS REX that are offering credit via decentralized means. Launched in September 2018 and having around $42.4 million locked up, Compound is a decentralized money market where you can lend your own stores of crypto in order to earn interest, while the peer-to-peer lending platform Dharma was launched in April and has roughly $23.91 million locked up, either as ether or DAI. On top of this, there’s a long list of competing platforms, including Cred, BlockFi, Lendoit, SALT, NUO, ETHLend and Colendi.
Another one of these new DeFi lending platforms is Bloqboard, which lets users borrow or lend a range of crypto assets on the Ethereum blockchain, from Wrapped Ethereum to BAT, ZRX and DAI. Its dashboard is fairly simple, with visitors being able to choose to borrow or lend any supported crypto and with them being presented with the variable interest rate they’ll benefit from or have to pay. It also enables customers to use Ledger or MetaMask to interact with the Ethereum blockchain and track their transactions. And as Bloqboard’s head of growth, Nick Cannon, explained to Cointelegraph, such transparency is a big part of the reason why decentralized lending and DeFi more generally is likely to take off.
“DeFi brings magnitudes greater accountability and transparency to investors making for a healthier financial system. These products will broaden access to sound financial investments no matter what geography you reside in.”
On top of greater accountability and transparency, decentralized finance will also bring the benefit of greater security for users and their funds, something pointed out to Cointelegraph by Guillaume Palayer, a co-founder of decentralized crypto asset management platform Betoken.
“The main advantages are the control, security and permissionless nature offered for the end users by DeFi products,” he said. He went on, saying:
“Permissionless because everyone can access it without conditions and independent of your local financial system’s health. Security and control because the vast majority of DeFi products are non-custodial and offer the option to opt-out of their service with a simple transaction.”
As both Palayer and Cannon suggest, the decentralized and geographically nonspecific nature of blockchain means that DeFi lending is more open to a wider market of customers than centralized alternatives. But in addition to this, decentralized lending is more open in a financial sense, and for two primary reasons.
First of all, most blockchain-based credit platforms don’t actually require users to have a good credit score or even a credit history, with many covering the risks they take on by requiring collateral — often in the form of crypto — from borrowers (as in the case of MakerDAO, for instance).
“With a decentralized loan, you’re not dependant on having access to a credits system and you are able to customize the duration and the cost of the loan however you want,” Palayer explained. “As far as I know, no centralized loan providers offer this kind of advantage in a trustless fashion.”
The fact that you don’t require a credit score is in evidence, for instance, with Nexo, which offers instant loans in over 45 fiat currencies. Nexo co-founder Antoni Trenchev told Cointelegraph:
“As long as you have crypto assets, you can immediately borrow cash that is delivered straight to your local bank account.”
Nexo claimed to have issued $300 million in loans to over 170,000 users in the seven months leading up to March, while Trenchev also reports that the use of blockchain and crypto-based collateral means that loans can be made extremely flexible for users, both in terms of the amount borrowed and in terms of the conditions attached to lending: “There is no fixed repayment schedule, no strict maturities. As long as you have sufficient collateral to secure your borrowed funds, you have the flexibility to repay your loans at any time with cash or crypto assets.”
Secondly, in many cases, the decentralized, blockchain-based nature of DeFi lending systems allows companies to offer credit at a lower cost, something that obviously makes obtaining loans more affordable for a wider group of people. “Borrowing and potentially the costs of payments in distributed systems are lower,” Alexey Ermakov, the CEO and founder of decentralized payment apps Aximetria and PayReverse, said. He continued:
“Among other reasons, this is due to the fact that in the case of blockchain-based credit systems there are no compliance costs and/or they are significantly lower, and costs are also lowered by the ability to make electronic mortgages and provide loans on the basis of smart contracts.”
Feeding into the openness of decentralized lending platforms is the burgeoning area of blockchain interoperability and atomic swaps, which promise to give users more options when taking out loans or lending crypto.
“Another huge advantage that stems from DeFi’s permissionlessness is interoperability,” Palayer said. “You could take out a DAI loan from MakerDAO and convert it to Ether using Uniswap or Kyber Swap to gain leverage. The possibilities are endless, and we feel everyone should be excited about this.”
And from a more general and macroeconomic perspective, the increased openness and accessibility of decentralized loans should result in higher productivity for the global economic system, as outlined by Cannon:
“As the market matures, decentralized lending services will source more ‘dead capital’ from around the world.”
Put differently, blockchain-based loans will have the effect of putting “dormant” crypto to work in the wider economy, with hodlers having the opportunity to borrow or lend without ever renouncing the underlying ownership of their cryptocurrency.
“Many have been purchasing cryptocurrencies as a very long-term investment, expecting their value to grow hundreds even thousands of times,” Trenchev explained. “Naturally, such investors do not use their crypto for payments. They do not trade it. They simply keep their assets with the expectation of having exponential returns by just holding.”
Future challenges and future promise
There’s little doubt that the world of blockchain-based lending is a tantalizingly promising one, but the fact that it’s still in its infancy should give potential customers and the industry more generally pause for thought.
First of all, the vast majority of DeFi platforms are still untested and in development, and as SALT’s head of product, Rob Odell, told Cointelegraph, this means that users should be careful when choosing a service:
“Be vigilant about researching your options,. For all its advantages, most DeFi applications are still very new — they need time to work out all the kinks and be battle tested.”
Odell also noted that users should consider “how limited the offerings of some of the DeFi loan products can be. For example, right now, MakerDao only works with Ether,” and while MakerDAO is (like certain other platforms) planning to add more cryptocurrencies in the near future, its current limitations are one indicator of how much distance DeFi has to travel before it can compete on the same level as legacy systems.
As with pretty much every area in which blockchain technology is being applied, education will be one of the first key areas in ensuring that DeFi can expand, mature and realize its potential. “There are a number of challenges but I think education is the greatest,” Jeremy Lam, product lead at OmiseGo, a finance-oriented scaling network for Ethereum, said. He added:
“DeFi platforms will often require the capacity of the individual to be in control of their own private key. I don’t think most people are ready to handle such a responsibility. Also related to education, we have to consider who is using DeFi services. How do we protect people with insufficient financial knowledge from losing money on products they don’t understand?”
One thing that potential users need to be educated about is that some DeFi platforms will be more — or less — decentralized than others, something that could potentially put them and their money at risk. “A Service provider needs to fulfill certain conditions to be a true DeFi service,” Stani Kulechov, the CEO and co-founder of the Swiss-based AAVE, which runs the Ethereum lending service ETHLend, warned. He went on to say:
“First and foremost, ensure that the service provider does not hold your assets. This means that there must be a smart contract that holds the funds and secondly ensures that the transactions are conducted via smart contract and not through a third party signing. You should choose DeFi projects based on transparency and track record.”
More fundamentally, decentralized lending won’t succeed and make significant headway until the industry pinpoints — and builds itself around — gaps in the credit and loans market it’s well-positioned to solve. “As mentioned, education is a large challenge,” Lam said.
“The other huge challenge is to properly understand what problems DeFi is trying to solve and onboard the users that are experiencing that pain.”
And while there is certainly a demand for loans that don’t require a credit history, the fact that most no-credit DeFi platforms ask for crypto as collateral would mean that the success of such platforms is predicated on the general and widespread adoption of cryptocurrency.
And while we certainly haven’t yet reached the “widespread” adoption of crypto, there is some indication that adoption has increased in recent months, with around 9% of Americans now owning bitcoin (according to an April self-selected survey from Blockchain Capital), compared to only 2% in November 2017. There is, then, genuine hope that the DeFi sector will capitalize on this growth, with figures belonging to this sector confident that it will overcome its challenges and make good on its potential.
“I’m very confident about the tremendous ecosystem’s growth we could witness in the next coming years,” Palayer affirmed. Similarly, Odell said, “While it’s still very early, decentralized finance will eventually be the norm if the promises of transparency, openness and access are fulfilled by these solutions.”
Accounts with bitcoin (BTC) balances over 25 BTC will receive a .15% increase in interest rate, and those with ether (ETH) balances between 25 and 75 ETH will decrease from 6.2% to 3.25%.
According to BlockFi, the lending environment for bitcoin has flourished while for ether it has floundered. Ether in particular is being offered at a 0.01% borrowing rate on major crypto exchange Poloniex and crypto lending firm Compound, and comprises only 3% of crypto lending giant Genesis Capital’s portfolio in the first quarter of 2019.
BlockFi has made corresponding interest rate adjustments in response, they say. In addition to the aforementioned figures, they note that the interest rate for BTC balances between 0.5 BTC and 25 BTC will remain unchanged, and that accounts with over 100 ETH will earn a 0.2% annual percentage yield (APY).
BlockFi initially launched its bitcoin and ether accounts on March 4, with starting interest rates at 6% APY for both cryptocurrencies. BlockFi subsequently lowered its interest rates just 18 days later.
Rates were initially set slightly higher than previously said, at 6.2%, but BlockFi announced that they would be cut down to 2% for accounts with over 25 BTC or 500 ETH in April. This change did not target the vast majority of BTC and ETH holders, around 75% of which reportedly held less than 5 BTC or 150 ETH.
BlockFi reportedly faced criticism from industry figures targeted at the company’s terms and conditions, which allow the firm to set the interest rate each month at its sole discretion. David Silver, founder of the Silver Miller law firm, said that BlockFi’s advertising does not match up with its policy:
“A superficial review of their splash page and their terms and conditions shows that their advertising is not necessarily what they’re guaranteeing […] and it’s understandable why people would be confused if they didn’t receive their 6.2 percent because BlockFi’s advertising makes it seem like that’s a guaranteed rate of return.”
BlockFi assets are reportedly held by the custodial arm of Gemini Trust Company and is regulated by the New York State Department of Financial Services, and clients are offered free reign to withdraw their holdings upon request.
A crypto platform is unveiling features that enable users to borrow against their assets to unlock spending power.
A “next-generation” mobile payment platform has unveiled two products that are designed to help users smartly manage money matters and enjoy “greater financial empowerment.”
Crypto.com’s first new offering, Crypto Earn, gives the public “the freedom to grow their assets.” Available through the platform’s flagship app, the service allows users to deposit virtual currencies and accrue incentives, the company said. Consumers can choose to hold their assets for either one month or three months, and the company said a flexible plan will follow in the future.
The Hong Kong-headquartered company, which was founded in 2016, has also launched a second product called Crypto Credit. This service is designed to help users unlock spending power and monetize crypto assets without selling them — potentially helping borrowers to ride out price volatility in the marketplace.
Once a loan is taken out, borrowers are allowed to set their own repayment terms within a 12-month period, as well as avoid monthly late fees and deadlines. No credit checks are required for consumers to use this service, and the website says that it offers a loan-to-value ratio of 40% on bitcoin.
Loans are paid out in stablecoins, and the funds can be loaded onto Crypto.com’s MCO Visa Card to spend on everyday goods and services.
Kris Marszalek, the company’s co-founder and CEO, said: “MCO Visa Card, Crypto Earn, and Crypto Credit together form a powerful product suite that nobody else in the industry has today. We’ve never been more excited about the potential of our platform and look forward to continue scaling it globally later this year.”
Crypto Earn and Crypto Credit are available to users who have already been approved to use the Crypto.com Wallet and Card app — with the exception of residents in Singapore, Switzerland, Malta, the United States and Hong Kong. The company said efforts are underway to make the services available in these areas.
Collectively, the company said it is offering a modern approach to financial services — offering a crypto-focused alternative to banks that lend and accept deposits.
As previously reported by Cointelegraph, Crypto.com’s MCO Visa Card offers cashback benefits that are meant to appeal to modern consumers and frequent flyers. Depending on the tier of subscription they choose for the card, consumers have the potential to benefit from free Netflix and Spotify subscriptions as well as cashback on all purchases, and additional rebates whenever bookings are made on the likes of Expedia and Airbnb.
When the new cashback features were unveiled back in March, Crypto.com’s CEO said the company had received “hugely positive feedback” from customers in Singapore, with the platform setting its sights on shipping its cards to customers in Europe, the U.S. and other markets.
Earlier in May, Crypto.com announced that it had officially received an ISO/IEC 27001:2013 certification following “rigorous third-party security audits.” The platform claimed it is “the first cryptocurrency wallet application to achieve this coveted accreditation,” and its chief information security officer claimed in a blog post that “the certification demonstrates that cybersecurity and privacy are embedded into Crypto.com’s DNA.”
Meanwhile, new coins and tokens have been added to the Crypto.com Wallet and Card app as the company strives to welcome users from across the community. Recent introductions include Enjin’s ENJ Coin — commonly used by gamers — along with the Basic Attention Token, an addition that is set to benefit an estimated 6 million people who actively use the Brave browser.
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