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NEXO
About NEXO
NEXO is a utility token used within the NEXO platform, bridging the gap between traditional finance and the digital asset economy. NEXO users can borrow fiat or stablecoins by collateralizing cryptocurrencies. Furthermore, NEXO token holders are eligible to participate in platform decisions, emphasizing the platform's community-centric philosophy. The token also offers holders up to 12% annual interest on the NEXO tokens held in their wallets. Moreover, holding NEXO tokens enrolls users in NEXO's Loyalty Program, granting them higher yields on crypto and fiat currencies, preferential borrowing rates, and free crypto withdrawals. The NEXO token was created by Nexo AG, a FinTech group established in 2017, based in Zug, Switzerland, that blends traditional finance and blockchain technology.
NEXO is a utility token associated with the NEXO platform. It's an ERC-20 compliant token on the Ethereum blockchain. As a utility token and not a security token, NEXO powers the various functionalities of the NEXO platform and is subject to different regulations. NEXO allows its users to borrow fiat currency or stablecoins by using their cryptocurrency holdings as collateral, bridging the gap between traditional and digital finance.
On October 2024, Nexo rebranded itself as a comprehensive digital assets wealth platform. This strategic shift reflects Nexo's evolution from a crypto lending pioneer to a full-fledged wealth management service. The rebranding includes a new logo, website, and enhanced user interface, aiming to provide sophisticated and flexible digital asset solutions. This transformation aligns with the growing demand for advanced tools in the digital asset space.
The primary use of NEXO tokens is to fuel the operations of the NEXO platform. This allows users to borrow fiat currency or stablecoins against their cryptocurrency assets, merging the security and robustness of traditional finance with the flexibility and innovation of blockchain technology.
In addition, NEXO tokens enable holders to participate in platform decisions, enhancing the community-driven aspects of the NEXO platform.
NEXO token holders can earn up to 12% interest per annum, paid out daily, on the NEXO Tokens held in both their Savings and Credit Line wallets. Furthermore, by holding NEXO tokens, users are automatically enrolled in NEXO's Loyalty Program, providing:
1. Higher yields on both crypto and fiat currencies with the NEXO Earn suite. 2. Preferential borrowing rates for the Instant Crypto Credit Lines™. 3. Free withdrawals of crypto assets.