Nexo (NEXO) Wallet

Nexo is a platform offering users instant cryptocurrency-backed loans. The project was launched in 2018 and is supported by Credissimo, a FinTech group with 10+ years of experience in finance, more specifically in online consumer lending. It is also supervised by the EU banking body.

Nexo allows its users to access instant loans in both fiat and cryptocurrencies, more specifically stablecoins. That is done by placing digital assets in a Nexo account, as collateral, that remain 100% retainable. The loans are processed with the help of smart contracts and an oracle on the Ethereum blockchain that returns the digital assets once the loan is repaid. Nexo's market includes crypto investors, hedge funds, crypto miners, exchanges, and gamers. NEXO is a US SEC-compliant token that is backed by underlying assets of Nexo's loan portfolio. NEXO token provides passive income to its holders in the form of 30% dividends from the company's profits. They can also get discounted interest rates on the Nexo instant crypto-loans and use the token as collateral.

In December 2021, Nexo announced the launch of their NFT Lending Desk that was created in collaboration with Three Arrows Capital. The Lending Desk allows users to gain instant liquidity without selling their NFTs.