Nexo (NEXO) is a cryptocurrency made by Credissimo, a European FinTech Group and market leader in the Online Consumer Lending segment across Europe. Credissimo was founded in 2007 and therefore has more than 10 years of experience in the FinTech industry. The team behind Credissimo moved into the cryptocurrency arena in 2017 with the launch of Nexo, a cryptocurrency and the world’s first blockchain-based cryptocurrency-backed loan platform.
With Nexo, users deposit supported crypto assets including, apart from Nexo (NEXO), also Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Binance Coin (BNB), Litecoin (LTC) and 17 other cryptocurrencies to earn an instant cash loan in 45+ fiat currencies. Upon depositing crypto, a credit line becomes instantly available and no credit check is necessary. Users can spend from their credit line anytime by the Nexo card or withdraw directly to their bank account. When your crypto goes up in value, additional credit is automatically and instantly available on your credit line. Also, all crypto assets are insured and secured by the renowned SEC-approved custodian BitGo.Apart from Nexo’s instant crypto credit line, users can earn 8% interest per year with compound interest paid out daily with no fees for loaning out crypto or fiat currency.
In addition to Nexo’s financial services, Nexo (NEXO) token holders reportedly receive passive income in the form of 30% of the company’s profits. As well, token holders also receive discounted -50% rates on Nexo’s Instant Loans.
Currently, Nexo is the largest and most trusted lending institution in decentralized finance as it has processed $700 million for 200,000+ Nexo users and has received more than $1 billion in Instant Crypto Loan requests. Moreover, Nexo is supported in more than 250 jurisdictions and supports 45+ fiat currencies.
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