Esketit becomes first P2P lending platform in Europe to offer to invest in stablecoins
Esketit has added a new and exclusive platform feature: investors can now invest in loans by using stablecoins USDC and USDT. With this, Esketit becomes the first P2P lending platform in Europe to enable investing with cryptocurrencies.
From now on, the investors can top up their Esketit investing accounts not only in EUR, but also USDC and USDT. After the transfer, the crypto will be converted to euros, and upon withdrawal, back to one of the stablecoins. Withdrawing funds with Esketit is free.
What are USDC and USDT?
USDC is a stablecoin that is pegged to the US dollar price; thus 1 USDC = 1 USD.
USDT or Tether was the first stablecoin in the crypto market, and it is the largest stablecoin in terms of market capitalization, with over $64.5 billion.
As of 2021, USDT is the most traded stablecoin in the market, as the ability to quickly switch blockchains holds many advantages without getting involved in volatility. It primarily operates on the Ethereum blockchain and exists on other blockchains, such as Bitcoin, Tron, and EOSIO.
Just like USDC, USDT’s price is pegged to the US dollar, where 1 USDT = 1 USD.
Trusted and secured transactions are managed by CEX.IO crypto trading platform.