Nexo Finance
| Nexo | |
|---|---|
|
|
| Country |
 United Kingdom
|
| Seat | London |
| legal form | Corporation |
| Website | https://nexo.io |
Nexo is a blockchain technology company that provides instant crypto credit lines backed by digital assets.
The Nexo platform supports the following crypto assets as possible collateral: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple's XRP, Binance's Coin (BNB), Nexo's Token (NEXO) together with stablecoins .
Loan value dates can be paid out in 45 fiat currencies. Nexo does not charge any fees, except for an interest rate which, depending on the credit structure, is between 8% and 24% annually.
Nexo's managing partner gave insights into this industry in television interviews at Bloomberg and CNBC and commented on the value proposition of the blockchain, which he believes is greater than Tether or Bitfinex. This statement was allegedly subsequently confirmed by the market.
safety
Nexo uses cold storage wallets provided by the company in the field of multi-signature encryption technology: BitGo. These assets under management are covered for an insurance value of up to US $ 100 million by the London-based insurance company Lloyd 's and its insurance syndicate under its auspices.
history
The Nexo Platform opened on April 30, 2018, less than a month after Nexo met its $ 52.5 million funding goal. The Nexo story was a cover story on American Banker.
On December 15, 2018, Nexo paid out an interim dividend of USD 912,071.00 to NEXO token holders. The company regularly shares 30% of its profits in the form of its own NEXO dividend tokens backed by the company's over-secured loan portfolio.
In the 2nd quarter of 2019, Nexo expanded its range of services and now offers crypto owners the opportunity to earn 6.5% annually through compounding their crypto assets and EUR. The interest is paid out daily and users can withdraw the loan amount with the accumulated interest at any time.
As of May 2019, the company said it was able to process more than USD 500 million for more than 200,000 users.
Individual evidence
- ↑ Marco Bernegg: Exclusive: How Bitcoin pursuer Nexo uses the billionaires' strategy for itself. Retrieved on July 23, 2019 (German).
- ↑ Nexo Co-Founder Weighs In on Tether and Crypto Market Landscape. Retrieved July 23, 2019 .
- ↑ Hard for cryptocurrency doubters to continue their cause: expert. Retrieved July 23, 2019 .
- ↑ Crypto lending may be risky, but these firms say they've solved the riddle. Retrieved July 23, 2019 .
- ↑ Angel Milev: Explained: Dividend Tokens. April 17, 2018, accessed July 23, 2019 .
- ↑ The Daily: Nexo to Pay Interest on Stablecoins, startups launch banking services. In: Bitcoin News. October 31, 2018. Retrieved July 23, 2019 (American English).
- ↑ Crypto Lenders Push No-Tax Perk of Leveraging Bitcoin for Cash. Retrieved July 23, 2019 .