Nexo Launches World's First Instant Crypto-backed Loans Platform

The limited ways in which investors can enjoy crypto wealth are among the biggest pain points for asset owners, who hold nearly half a trillion in digital currencies. In order to reap the benefits of their holdings, they are required to sell their coins. Now, for the first time ever, Nexo gives investors and businesses instant and automatic crypto-backed loans, allowing them to preserve ownership of their assets while accessing cash whenever needed.  

Nexo's instant crypto-backed loans in four simple steps:

1. Deposit crypto assets to a secure Nexo Wallet
   Clients' assets are held securely with BitGo, the most reputable custodian in the industry.
2. Automatically receive a loan
   Through Nexo's fully automated processes, clients receive an instant and flexible credit line.
3. Spend money instantly by card or by withdrawing to a bank account
   Clients start spending fiat instantly from their credit line, and only pay interest on what they use.
4. No minimum repayments or hidden fees
   Flexibility at its finest - repayments are possible at any time and can even be debited from the available limit.

"71 percent of investors have much higher price targets for various cryptocurrencies and plan to hold their digital assets as long as possible. Nexo is giving them the means to spend the value of their crypto without having to sell it. This is important for the entire community, as our product aims to provide a meaningful mechanism for credit facilitation," said Antoni Trenchev, Managing Partner of Nexo.

Making use of the Nexo platform comes with additional benefits. Since clients borrow against their crypto assets rather than selling them, no capital gain taxes are triggered. This helps with tax optimization and is especially useful in jurisdiction with high taxation rates, which can go all the way up to 40 percent. Furthermore, since loans are secured with digital assets, no credit checks are required— meaning users can access valuable cash without reducing their credit scores or going through burdensome procedures. There are no minimum repayments, and clients choose their own repayment schedules.

The seamless flow of the platform is made possible by the experience and expertise of the team behind Nexo. Unlike many unknown finance startups that cater to the crypto market, Nexo's founders are already well-established in the industry through their existing company Credissimo - a financial technology group that has been strictly supervised by multiple European banking and financial service regulators since 2007. Nexo is also one of the few entities to promote self-regulation and codes of conduct, which combined with Nexo's unique instant crypto-backed lending model, helps overcome a major hurdle for the young digital economy— driving the entire cryptocurrency world further toward its full potential. It then comes as no surprise that Nexo has requests for instant crypto-backed loans in excess of $1bn, and the team is now dedicating all efforts to meet that demand.

About Nexo

Nexo [www.nexo.io] provides the world's first instant crypto-backed loans. Crypto investors receive instant funding with flexible repayment options— without credit checks or hidden fees. Backed by Credissimo, a leading European FinTech Group that has been supervised by banking and financial services regulators for over a decade, the NEXO Dividend Token is SEC-compliant, asset-backed and trusted by industry leaders.

SOURCE Nexo

Related Links

http://www.nexo.io