Wirex Credit is a credit line solution designed to give users access to credit in stablecoins. It allows users to unlock the value of their cryptocurrency holdings without having to spend them. With Wirex Credit, users can enjoy low-interest rates, instant funding, and the flexibility to choose the amount and currency of the credit line.
Setting up a Wirex Credit line is simple and straightforward. Users can open a credit line by using their cryptocurrency holdings as collateral. Based on the loan-to-value (LTV) ratio, the credit will be credited into their stablecoin account. With the credit line, users can spend their stablecoins using their Wirex Card, or stake them into dApps such as Aave.
Wirex Credit provides users with the flexibility to close the credit line at any time before the maturity date, and they only pay interest for the days the credit line was active. Overall, Wirex Credit offers a convenient and efficient way for users to access credit in stablecoins and make the most of their cryptocurrency holdings.