NEXO is a leading digital assets institution that aims to maximize the value and utility of digital assets. It offers a suite of products including advanced trading solutions, liquidity aggregation, and tax-efficient asset-backed credit lines. The platform's native currency is the NEXO Token, an Ethereum-based token that grants holders access to Nexo’s Loyalty Program and other benefits.
NEXO was founded by a team of experienced professionals in the digital asset space. The team has successfully processed over $130 billion for more than 5 million users across 200 jurisdictions. In 2022, NEXO launched its investment arm, Nexo Ventures, which now boasts over 60 portfolio companies.
The NEXO Token is traded on the open market. The exact number of tokens in circulation varies as it depends on market conditions and other factors. The token brings a number of advantages to its holders, including preferential borrowing rates, cash-back, free withdrawals, and better yield rates.
NEXO Tokens can be purchased on leading centralized and decentralized exchanges such as Nexo Exchange, Binance, Bitstamp, Huobi, Bitfinex, Gate.io, Bitget, MEXC Global, and UniSwap. It's also possible to trade NEXO on the open market through these exchanges.
NEXO has a wide range of applications in the digital asset space. Its Instant Crypto Credit Lines offer flexibility and ease-of-use for cryptocurrency holders needing extra funds. The platform also offers daily payouts, compounding interest, and flexible yields on its Earn Interest product. Nexo Pro, the company’s trading platform, provides access to over 400 market pairs for both beginners and experienced traders. Additionally, the Nexo Card, developed in partnership with Mastercard, allows clients to spend the fiat value of their cryptocurrency holdings without selling them.
NEXO has made significant strides in the digital asset space. The company recently celebrated its 5th anniversary and has won various industry awards, including the Forbes Business Awards, PAY360 Awards, and FinTech Breakthrough Awards. NEXO was also among the pioneering operators to implement real-time attestation, showcasing that the company’s assets exceed liabilities at all times. For custodial functions, NEXO has partnered with industry veterans such as Ledger and Bakkt. The company also received its ISO/IEC 27001:2013 certification in November 2019, further enhancing platform security.
In recent NEXO news, the crypto lending platform has been making significant strides in the market. NEXO's co-founder, Antoni Trenchev, has predicted that the price of Bitcoin could hit $100,000 within a year due to increased adoption, particularly in Latin America.
NEXO has been proactive in its expansion efforts. The platform recently launched NEXO Pro, a new platform designed to bring industrial-level trading functions to individual users. This move aims to enhance the trading experience for NEXO's users, offering near-zero slippage of trade executions. Additionally, NEXO has made an unsolicited offer to acquire the assets of rival Celsius Network, following the latter's suspension of withdrawals due to adverse market conditions.
Despite rumors of exposure to Three Arrows Capital, a crypto hedge fund facing potential liquidation, NEXO has maintained its financial stability. The platform has assured its users that it has no exposure to the fund and is capable of meeting its debt obligations, which stood at $4.9 billion as of mid-2022.
Looking at the NEXO price today, it's clear that the platform has faced some challenges. However, NEXO's recent developments, including its expansion efforts and commitment to financial stability, suggest a promising future. If you're wondering where to buy NEXO, it's available on various crypto exchanges, including its own platform, NEXO Pro.