Nexo provides the worlds most advanced instant crypto credit lines, ranging from $500 to $2,000,000, accessible in over 200 jurisdictions and available in 45 fiat currencies as well as stablecoins. Within just seven months, Nexo attracted over 170,000 users and disbursed millions of dollars in credit lines, helping the crypto community unlock the latent wealth of their assets without selling them. All crypto assets stored with Nexo are 100% protected by crypto custodian insurance. Nexo is among the top 50 companies in the Swiss and Liechtenstein Crypto Valley blockchain cluster and collaborates with industry leaders such as BitGo, Coinbase, PrimeTrust, TrueUSD, Onfido, and Coinfirm.

Project Introduction

Nexo offers the worlds first instant crypto-backed loan, addressing a critical inefficiency in the crypto world. Until now, digital asset owners had no alternative but to sell their crypto assets to enjoy the wealth they represent. Nexo’s innovative model brings the best of both worlds to the crypto community – retain 100% ownership of digital assets while gaining immediate access to cash. The instant crypto-backed loan is an automated, flexible, and cost-effective way to gain liquidity, secured by the value of the customer’s digital assets. The entire process takes just a few clicks. There are no hidden fees, no capital gains tax, and no credit checks. Blockchain technology, smart contracts, and algorithmic processes executed by the Nexo Oracle ensure transparency.
Nexo is powered by Credissimo, a leading fintech group that has served millions of Europeans for over a decade. Credissimo has always operated under the highest regulatory requirements and strictest supervision from multiple European banking and financial services regulators.
Today, the growing Nexo supporter community and the significant demand for instant crypto-backed loans drive the team and its advisory board, who are unlocking the value of digital assets from the rapidly expanding token economy that will reshape the structure of a $5 trillion market.

Technology

Cutting-edge technology and process automation lie at the heart of Nexo’s business model. With Credissimo’s over ten years of experience in online lending, Nexo is perfectly positioned to develop top-tier solutions that extend crypto loans secured by crypto assets.

Nexo Oracle
The Nexo Oracle is an automated system that maintains various components of business processes. The Nexo card is linked to the user’s assets in their Nexo wallet. When making a purchase, the Nexo Oracle instantly confirms your credit line balance, approves the transaction, and sends you details via push notifications.

Development of Loan Contracts:
When setting up a crypto loan, the Nexo Oracle handles the automatic disbursement of cash, asset maintenance, notifications, and overall management.

Development of Instant Data Integration:
The Nexo Oracle performs real-time asset valuations based on data from multiple exchanges at any given moment. It aggregates real-time data from at least six independent sources (exchanges) to minimize overall risk for both Nexo and its customers. The Nexo Oracle also detects real-time changes in asset values and recalculates loan limits. In cases of asset appreciation, the loan limit is automatically increased immediately.

Development of Repayment Analysis Module:
The Nexo Oracle automatically records all repayment transactions and further billing actions initiated by the customer. The system automatically maintains interest repayments, outstanding balances, and updated loan limits at all times.

Development of Automated Notifications:
All loan maintenance actions are automatically executed by the Nexo Oracle without any human intervention – changes in asset values and loan limits; cash inflows/outflows; keep and rebalance warnings upon reaching minimum crypto asset thresholds; individual account balances are updated after repayment calculations; all relevant information is included in management notifications sent to the customer.

Modeling and Algorithm Development:
To ensure the system runs smoothly, Nexo integrates big data analytics, self-regulating algorithms, and predictive modeling into the Nexo Oracle. This way, Nexo can guarantee that information received from multiple external data sources is used for timely business decisions.

Products and Services

Instant Crypto-Backed Loans
Customers have different financial needs and requirements, which Nexo’s instant crypto loans understand and execute effectively. One way to receive an instant crypto loan from Nexo is through SWIFT, SEPA, or ACH same/next-day bank transfers into personal or corporate bank accounts.

Nexo Credit Card
The Nexo Card is a Mastercard with a blockchain system that requires it to be issued from the user’s Nexo app to handle USD. It is completely free, with no fees or commissions, and is compatible with the user’s wallet, although it does not auto-recharge, meaning transactions do not incur any commission charges.