Tezos Integrates Baanx App, Allowing Customers To Borrow Crypto

New and existing Tezos holders can now enjoy the game-changing digital app by Baanx, which is built to integrate with Tezos blockchain.

Bishal Kumar Chanda2 min read
Tezos Integrates Baanx App, Allowing Customers To Borrow Crypto

The crypto market opinion has been positive for straight three weeks now. In collaboration with the crypto-focused fintech company Baanx Group, Tezos blockchain network announced a new app to help users manage their digital assets. Cryptolife, a mobile-first digital asset management platform, is integrated into the Tezos blockchain and will allow users to "save, transfer, and manage their digital assets''. Users can also access Cryptodraft, Baanx's stablecoin loan service, with this new app. Borrowers can now get loans with up to 50% LTV (loan-to-value) backed by Baanx's native token BXX. What's better? The interest rates are as low as 0%! Click here to compare the best crypto loans in 2022.

In addition to the Baanx app integration, Tezos also announced the release of virtual and physical debit cards for enabling users to spend crypto. If you are interested in crypto cards, check out Best Crypto Credit Cards and Debit Cards of 2022. UK's FCA (Financial Conduct Authority) has already granted Baanx and its Cryptodraft service a regulatory license. Baanx founder and CEO Garth Howat called this grant a milestone for Baanx's journey in the crypto space. In addition, users can benefit from low fees fiat to crypto transactions and no-fee payments to address books using TextBit.

On February 14th, the Tezos Cryptolife app was made available to download through Apple App Store and Google Play. Excluding Germany and Estonia, users all over Europe can access the features and functions of the app. Although only 10,000 Tezos CL cards are initially made available, you can sign up for the waitlist at:

Baanx is a UK-based tech company that focuses on using debit cards, digital wallets, and mobile apps to modernize financial services. According to the company's website, Tezos is a part proprietor of Baanx and various other smaller backers from traditional finance and technology industries. In 2021, Tezos built a vibrant community around its original Proof of Stake protocol and had significant momentum. At the time of writing, Tezos' native token XTZ has a total market capitalization of $3.7 billion and is placed among the top 50 tokens. In addition, the smart contract-supported blockchain is being utilized to create new decentralized applications and other advanced resources.

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