NEXO Nexo Price USD

Nexo is a lending platform based on the blockchain that gives users instant loans backed by cryptocurrency. Users put up an accepted token, like Bitcoin (BTC), Ether (ETH), Litecoin (LTC), or XRP (XRP), as collateral to get a loan in the form of a fiat currency or stablecoin.

Nexo has a native token called NEXO. When NEXO is locked in the platform, it gives users benefits like lower interest on loans and the chance to get interest payments on funds deposited. Nexo's profits are also shared with people who own tokens.

The project was announced for the first time in December 2017, and it began in April 2018.

Nexo was started by a group of finance experts and crypto fans. They used blockchain to make a cryptocurrency version of a service that has been around for a long time in traditional finance but didn't exist in digital finance until now: borrowing against the value of your assets while keeping ownership. In 2018, the team launched the Nexo platform, which offered the world's first crypto credit lines. These lines let owners of digital assets borrow fiat and stablecoins against their digital assets, laying the groundwork for the crypto lending niche.

Nexo is made up of a group of people who have worked in financial services for more than 30 years. This includes non-crypto lending, investment banking, mergers and acquisitions, and hedge funds. Co-founder and Managing Partner Antoni Trenchev also has experience in Finance Law and KYC and AML solutions.

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