FinTech and crypto lending platform YouHodler just announced they will be adding the Euro (EUR) to their list of fiat loan options. Along with USD, EUR becomes the first new addition to this now, multi-currency platform after increasing demands from their European user base.
Previously, the user could receive a loan issued in USD and withdraw borrowed funds using USDT or USD/EUR bank wire. Now, all users can get loans in EUR as well. After choosing from BTC, BCH, BSV, ETH, XRP, and LTC as collateral options, users can request a USD and EUR fiat loan. The option to pay back the loan is available in EUR as well.
All coin rates on the YouHodler platform will be connected to EUR. For example 1 BTC = 3000 EUR instead of 3500 USD. Furthermore, users are granted more flexibility since they can now change currency any time they like. If a user wants to take two loans in USD and then two loans in EUR (or any combination) then it is possible.
To store their funds, every user is granted 2 unique fiat wallets (USD and EUR) upon signing up and passing know-your-customer (KYC) verification. Fiat funds can be transferred freely between wallets. Currently, YouHodler has no immediate plans to add another fiat option but CEO and co-founder Ilya Volkov had this to say on the matter:
“We are excited to announce the addition of EUR integration on our platform but we also want to keep looking forward to the next addition. We simply add what our user base demands. If our clients in Mexico demand Peso (MEX) integration, then we will add it. If our Japanese clients want to add Japanese Yen (JPY), we will add it. In our efforts to further globalize our platform and open up crypto lending to the world, we would love to hear our community’s thoughts and respond accordingly.”
In collaboration with the EUR addition, YouHodler will also release a new, more efficient credit card verification feature. Linking a credit card to your personal account and passing the verification process will all be automated. Users will soon be able to withdraw and deposit EUR directly to and from their credit card.
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