Blockchain-based payment settlement platform Terra has signed a partnership agreement with lender Nexo(https://nexo.io) Monday.

The two companies would run a cryptocurrency deposit-taking and lending services in Asia.

Nexo would use Terra’s data base for customer credit ratings and lend fiat money or cryptocurrencies without extra documentation. Customers could fetch up to 8 percent more than existing banks when they deposit money.

Holders of Terra coins would use them for borrowing money from Nexo, according to the two companies.

Their market would initially be the Southeast Asian market where people are more receptive to cryptocurrencies.

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