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Submitted by on Sep 3, 2021

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Nexo is a decentralised lending platform that provides customers with immediate cryptocurrency-backed loans. Users deposit an accepted token as collateral to obtain a loan in the form of a fiat currency or stablecoin, such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC), or XRP (XRP).

Nexo features its own native token, NEXO, which when locked in the network provides users with perks such as interest rate reductions on loans and the ability to earn interest payments on money deposited. Nexo’s profits are also distributed to token holders as dividends.

The project was initially announced in December 2017 and began in April of the following year.

Who Are The Nexo Founders?

Nexo was founded by a group of finance professionals and cryptocurrency enthusiasts who turned to blockchain to create the crypto equivalent of a service well-known in traditional finance but previously unavailable in digital finance: borrowing against the value of your assets while maintaining ownership. The Nexo platform was established in 2018, and it was the world’s first crypto credit lines, allowing digital asset users to receive fiat and stablecoin loans against their cryptocurrency, laying the groundwork for the crypto lending industry.

Nexo’s team has over 30 years of expertise in financial services, including non-crypto lending, investment banking, mergers and acquisitions, and hedge funds, with Co-founder and Managing Partner Antoni Trenchev’s experience in Finance Law and KYC and AML solutions adding to the mix.


Trenchev, who has served as Nexo’s public face, has a history of advocating for greater blockchain and crypto adoption, most notably as a member of Bulgaria’s National Assembly from 2015 to 2017. He promoted the implementation of blockchain solutions for e-government services, as well as frequently commenting on crypto and digital finance-related current events.

Nexo now has over a million customers and manages over $4 billion in assets across 200+ jurisdictions. The firm now employs 150 people, with its headquarters in London.

What Makes Nexo Unique?

According to its whitepaper, Nexo is the first-ever provider of immediate cryptocurrency-backed loans, and it aims to eliminate inefficiencies in the lending sector. Its automated lending mechanism manages loans using smart contracts and an oracle on the Ethereum blockchain. The oracle initiates the loan once a user sends bitcoin to a Nexo-controlled wallet, and the funds are promptly distributed to the user. The oracle refunds the cryptocurrency and records the transaction on the blockchain when the user makes a deposit to repay the loan. NEXO is powered by smart contracts, which are also utilised to keep track of user balances.

Individual and institutional investors, cryptocurrency firms, exchanges, miners, and anyone looking for liquidity from their assets will be interested in Nexo. The interest on loans earns the firm money, and it also provides institutional lending and consulting services.

Nexo wants to develop a user base of clients who will stick with the platform and invest in it. As a result, NEXO has launched a loyalty programme that rewards customers who maintain NEXO in their accounts with lower interest rates on loans and better savings yields. Nexo also pays out 30% of its income in the form of dividends to NEXO token holders.

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