Nexo delivers an Instant Crypto-backed Loans, thus resolving a crucial inefficiency for the crypto world. Up to this very moment, no alternatives existed for digital asset owners to enjoy their crypto wealth except selling them.
The innovative model of Nexo brings to the crypto community the best of both worlds - retaining 100% ownership of their digital assets while having immediate access to cash. The Instant Cryptobacked Loans are an automatic, flexible, and cost-efficient way of obtaining liquidity that is secured by the value of the client’s digital assets. The whole process is completed in just a few simple clicks. No hidden fees, no capital gains taxes, no credit checks. Transparency is guaranteed through the use of blockchain technology, smart contracts, and algorithmic processes executed by the Nexo blockchain oracle.
Nexo offers crypto-backed loans to users like investors, miners, hedge funds, exchanges, and token projects. Users can transfer assets to Nexo and immediately withdraw funds via the Nexo card or a bank account. Once the loan is paid back cryptoassets are sent back to the borrower. Nexo is available in more than 200 jurisdictions and accepts 45 cryptoassets as collateral. Nexo is part of Credissimo, a publicly traded fintech company founded in 2007.