Solana (SOL), one of the top-10 digital assets by market cap, is now supported by CoinLoan. The new addition reflects a growing demand from users.
The growth of the SOL blockchain is largely driven by its native token, which is actively used for transaction fees and staking. CoinLoan, a European Union-licensed fiat-to-crypto lender that provides crypto-backed loans and interest-earning accounts with crypto as collateral, has launched a special offer to promote its new offering.
For the first 30 days after opening Interest Accounts with SOL deposits, the account holder will earn an additional 2% APY. Existing CLT holders will get an increased 9.2% APY.
CoinLoan offers three core products that support SOL:
- SOL-collateralized loans for BUSD, TUSD, PAX, EUR, GBP, BTC, USDT, USDC, and WBTC;
- Crypto Exchange with competitive exchange rates;
- Interest Account with up to 12.3% annual percentage yield.
CoinLoan’s CEO, Alex Faliushin, commented on SOL’s launch: “The addition of Solana to our network provides our clients with even more options and benefits since it is one of the top currencies by market cap. Using our three products and continuous innovation, CoinLoan aims to make cryptocurrencies an easily traded and usable investment asset.”
The Solana blockchain uses the Proof-of-History (PoH) protocol, which is a significant advancement over Proof-of-Stake (PoS). It supports smart contracts, NFTs, and a range of decentralized applications (dApps). As a native part of Solana’s blockchain, SOL tokens provide network security and value transfer capabilities.
With CoinLoan, you can choose from over 25 assets, including cryptocurrencies, stablecoins, and fiat. CoinLoan was created to make it easy for even the least experienced users to get started in the crypto space.
With the addition of new coins and cutting-edge features such as crypto-to-fiat lending, CoinLoan is on track for continued growth for both the company and
