Loans based on crypto-collateral have become increasingly common over the last few years. Centralized lending service Nexo launched crypto-backed loans in May 2018, and decentralized applications like MakerDAO and Aave (formerly Ethlend) have offered loan services since 2017.

Despite legal challenges, Bitfinex has continued to add partnerships and features to its platform. In September, Bitfinex added improved support for Bitcoin Lightning network transactions, which are used to speed up lengthy Bitcoin transaction confirmation times, and interest rewards for holding Bitcoin and Ether on the Bitfinex exchange in partnership with crypto wallet and loan provider Celsius.

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