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Home Business & Finance Retail Investors Can Now Use Paxos Gold as Collateral Against Loans

Retail Investors Can Now Use Paxos Gold as Collateral Against Loans

Document Analysis NLP IA

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positive
sentiment

Sentiment0.18809523809524
objective
redaction

Subjectivity0.40659340659341
it's an affirmation
Affirmation0.5078125

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Key Concepts (and relevance score)

Summary (IA Generated)

Crypto-lending platform Nexo has today, March 25, opened up the option of using PAX Gold (<a href="https://somuchinfo.com/2020/02/20/paxos-dlt-settlement-platform-is-live-with-credit-suisse-and-instinet/”>PAXG) as collateral against its loans to retail investors.

A pilot scheme in late 2019 was limited to institutional clients and purportedly saw immediate demand for its gold-backed credit lines.

Nexo saw such demand for gold-backed credit from institutional clients during its pilot scheme that it invested in $5 million worth of PAXG to meet investorsneeds.

The expansion of this pilot to include retail clients now allows anyone to leverage gold-backed PAXG assets as collateral on the Nexo platform.


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