Borrow USDT or USDC against your BTC, ETH, SOL, XRP or BNB, with more to come, held in a vault set up only for you. The fee is a fixed 9.25% of the advance, in USDT or USDC, stated before the advance is made, and Boxwind CR has agreed not to lend your collateral on.
If the price of your collateral falls far enough, some or all of it can be sold, with little or no notice, and you can still owe a shortfall. What happens if the price falls. A business day is a day banks are open in San José, Costa Rica, and New York.
01 / 04 · Pledge
Your collateral is held in a vault set up only for you.
Pledge your crypto into a vault on the Fireblocks platform that holds your collateral and nothing else. Boxwind CR has agreed not to mix it with its own or anyone else's assets, or to lend, stake or re-pledge it.
02 / 04 · Advance
Up to 60% of your collateral's value. One fixed fee.
You see the fee, a fixed 9.25% of the advance in USDT or USDC, before you sign. It is set once and does not grow with time. A default adds no extra fee; enforcement costs can still apply. The advance is paid in USDT or USDC to an address you have whitelisted.
03 / 04 · Monitor
Monitored continuously, by rules set out before you sign.
We monitor your loan-to-value continuously, including outside business days, using the median price from at least two sources that we select. A median limits the effect of one bad price, but with two sources it is simply their average. Every level, and what happens at it, is in your Advance Confirmation before you sign. Watching your LTV is also your responsibility.
- Two or more sources
- Median set
- LTV updated
04 / 04 · Release
Repay, and your collateral comes back.
Repay the advance and the other half of the fee, early if you like, with no penalty; the fee is unchanged. Our transaction policy requires at least two authorised approvers for the release, and your collateral goes back to your whitelisted address within one business day (a business day is a day banks are open in San José, Costa Rica, and New York) of receiving everything you owe on all your advances in cleared funds, less network fees. We may delay a release if the law requires it.
- Repayment received
- Two approvers sign
- 2.0000 BTC released
Dollars now. Your collateral back when you repay.
Illustrative figures, an example in bitcoin: 2.0000 BTC at USD 100,000, advance USDT 100,000, fixed fee of 9.25% of the advance, USDT 9,250. The 60% advance rate is the bitcoin value; levels for other assets are set for each asset and stated in your Advance Confirmation. Accepted collateral is BTC, ETH, SOL, XRP and BNB, with more to come. Every application is subject to due diligence, and we may decline any application or request. Nothing on this site is an offer.