— Nexo (@NexoFinance) May 11, 2018
Created by Credissmo, a leading European fintech group with 10 years of experience, Nexo enables crypto investors to leverage the value of their digital assets without needing to liquidate holdings. Nexo is the first blockchain project to enable zero-fee, instant cryptocurrency-backed loans, while its token is the world’s first SEC-compliant dividend-paying asset-backed security tokens with utility features.
NEXO dividend tokens, the first SEC-approved security token that pays out 30% dividends from the company’s net profits, offer discounted interest rates on the Nexo Instant Crypto-backed Loans and are also accepted as collateral on the Nexo Platform, in addition to bitcoin and Ethereum. Additionally, Nexo recently announced it will soon start accepting Binance Coin (BNB) as collateral and more than 26 other companies have already submitted applications for their tokens to be added on the Nexo platform.
When comparing Nexo to other crypto-based lending platforms, including ETHlend and SALT, some clear advantages emerge. First, Nexo is available to all investors across the world, whereas SALT is available to only U.S. residents and ETHlend is available everywhere outside of the U.S.
Nexo has a single interest rate with no additional fees and no token purchase requirement for membership, whereas SALT charges late fees and forces users to buy its tokens to be eligible for loans while ETHlend takes a commission on the interest of each loan.
Furthermore, Nexo is building off a successful private token pre-sale, which was oversubscribed 11 times over. hitting its hard cap of $52.5 million in less than two weeks. According to its website, Nexo has currently received more than $1 billion in requests for crypto-backed loans.
With the latest HitBTC listing, NEXO now boasts a $170 million market cap with $3.6 million in daily trading volume.