Zcoin Becomes a Collateral Option for Loans on Constant
The Zcoin team announced on November 29 that its privacy-oriented cryptocurrency, Zcoin XZC, can now be used as collateral to obtain cash loans on the Constant P2P lending platform. Constant is an alternative financial services platform that matches borrowers with lenders.
Following the listing, borrowers will be able to use XZC as their desired collateral type, determine their interest rate and loan term when requesting for a loan. The platform automatically matches them with lenders who will issue loans, while the collateral is sent to an escrow account.
Borrowers have the option to cash out their loan in USD or any other supported stablecoins. The collateral XZC is returned to a borrower once the loan is repaid with interest.
Speaking on the recent listing, Duy Huynh, founder of Constant said:
Constant is a great tool for crypto-holders to unlock the value of their assets if they want to diversify or get some extra cash. We are very happy to be working with Zcoin, one of the most influential blockchains for privacy today.
The platform is quite popular in Southeast Asia and has recorded over $3 million in loans since its launch this year.