Nexo has recently announced USD integration. This is the last step before mass adoption will rise for this business. The likely scenario that should play out when this is live, The users that will be adopting Nexo or simply the receivers.
https://nexo.io/nexo-card?referral=XVBMj36&refSource=copy
American Immigrants in 2017 sent 148 Billion dollars annually to families living in other countries.
Western union one the largest global money transfer providers worldwide, Nexo is ready to eat this whole market up. Once USD is allowed many other currencies will be allowed depending on regions.
2018-2020 financial records of Western Union
Western Union revenue for the quarter ending December 31, 2020 was $1.272B, a 2.75% decline year-over-year.
Western Union revenue for the twelve months ending December 31, 2020 was $4.835B, a 8.64% decline year-over-year.
2020 was $4.835B, a 8.64% decline from 2019.
2019 was $5.292B, a 5.33% decline from 2018.
2018 was $5.59B, a 1.19% increase from 2017.
Nexo was a top 50-60 asset until bitcoin bull trend started to gain momentum in recent days. Now it is #71 cap of $1,641,978,322
$2.93 7% rise for the week.
Other projects Nexo is working on or completed
Credit card has been in the works for months will arrive soon from online chatter and hints from Nexo, lending will rise with thus and really push the value of nexo up.
Exchange is Live (works perfect, still in progress of adding more tokens, only a dozen are allowed many more will be added slowly, kind of like how
Coinbase has slowly adds new coins quarterly
Feeless withdrawals
nerf\rebalanced interest rates adding 30 day lock in stakes.
If Nexo can attract 1-3% of the 148 Billion that will boost Nexos market cap in a parabolic effect. 1.6billion to 10 Billion
Top 25 coin by end of year is a conservative view seeing how volatile it went from 51 for weeks then to 71, It will rebound.
Personally I will be utilizing this side of the business because I have family in South America that I've send to through Western union the past decade I would of love to have cash in Nexo and send it to the family member allowing them to also earn interest without moving it.
The centralized ownership of nexo gives the best bridge / communication with traditional banks / government laws. Some USA criticism is the ceo is not from USA.
My question to you all,
Can USD on Nexo be FDIC backed that's something longterm I believe can occur especially since how clear communication nexo has been on the past year. The federal government of USA is seeking a crypto blockchain advisor back in December. Things move fast!
Thanks for reading.
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