Nexo

Nexo Card

The Nexo Card, linked to the user’s crypto-backed credit line, allows spending without selling digital assets. The card is accepted by merchants worldwide that support Mastercard. Users can earn up to 2% cashback in Bitcoin or NEXO tokens on every purchase. The card supports multiple fiat currencies and offers real-time transaction notifications.

Nexo Exchange

Nexo’s in-app exchange enables users to buy, sell, and swap between various cryptocurrencies. The platform supports over 300 market pairs and offers competitive rates. Users can execute transactions instantly, with the option to earn interest on assets held within the exchange.

NEXO Token

The NEXO token is the platform’s native utility token, providing holders with benefits such as higher interest rates, lower borrowing rates, and dividends from Nexo’s profits. The token operates on the Ethereum blockchain and complies with ERC-20 standards. NEXO tokens can be traded on various cryptocurrency exchanges.

Security and Compliance

Nexo employs industry-standard security measures, including military-grade 256-bit encryption and biometric-based identity verification. The platform’s custodial assets are insured for up to $375 million through partnerships with reputable custodians. Nexo adheres to regulatory requirements in the jurisdictions it operates, implementing Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures to ensure compliance.

Recent Developments

In 2023, Nexo expanded its services by introducing support for additional cryptocurrencies and enhancing its mobile application for improved user experience. The platform also launched a sustainability initiative, aiming to achieve carbon neutrality by offsetting its operational carbon footprint. Nexo continues to explore partnerships and integrations to broaden its service offerings and maintain a competitive edge in the evolving cryptocurrency market.