OKX launches flexible USDC loans in Europe

OKX has launched crypto-backed USDC loans in Europe, allowing customers to borrow up to 250,000 USDC, or 3.25 million USDC for VIP clients, without a fixed repayment term. OKX says customers can borrow up to 80% of collateral value against more than 40 assets. The launch announcement lists variable hourly interest of 0.000229%, equivalent to about 2% annually. Borrowers can repay some or all of their debt whenever they choose, according to OKX. The service’s terms allow collateral liquidation and state that MiCA client asset protections do not apply. OKX said in its Oct.

Source: crypto.news