Nexo offers the world's most advanced instant crypto credit lines, from $500 to $2,000,000, available in 200+ jurisdictions and 45 fiat currencies as well as stablecoins. In just seven months, Nexo has attracted more than 170,000 users and issued tens of millions of dollars in credit lines, helping the crypto community unlock the underlying wealth of their assets without selling them. All crypto assets stored on Nexo are 100% protected by crypto custodian insurance. Nexo is one of the top 50 companies in the Crypto Valley blockchain cluster in Switzerland and Liechtenstein, and works with industry leaders including BitGo, Coinbase, PrimeTrust, TrueUSD, Onfido and Coinfirm.

Project Introduction

Nexo solves critical inefficiencies in the crypto world by offering the world's first instant crypto-backed loans. So far, digital asset owners have had no alternative to enjoy their crypto wealth other than selling their crypto assets. Nexo's innovative model brings the best of both worlds to the crypto community - retaining 100% ownership of digital assets while having instant access to cash. Instant crypto-backed loans are an automated, flexible and cost-effective way to access liquidity, secured by the value of the client's digital assets. The entire process can be completed with just a few clicks. No hidden fees, no capital gains taxes, no credit checks. Transparency is guaranteed through the use of blockchain technology, smart contracts and algorithmic processes executed by Nexo Oracle.
Nexo is powered by Credissimo, a leading fintech group serving millions of people across Europe for over a decade. Credissimo has always operated under the highest regulatory requirements and strictest supervision of several European banking and financial services regulators.
Today, a growing community of Nexo backers and a huge demand for instant crypto-backed loans fuel the team and its advisory board as they unlock the value of digital assets from a rapidly expanding token economy that will Changing the structure of a $5 trillion market.

Technology

Cutting-edge technology and process automation are at the heart of Nexo's business model. With Credissimo's more than 10 years of experience in online lending, Nexo is in an excellent position to develop a top-of-the-line solution that extends crypto-lending secured by crypto-assets.

Nexo Oracle
Nexo Oracle is an automated system that maintains various components of business processes. The Nexo Card is linked to the assets in the user's Nexo wallet. When making a purchase, the Nexo Oracle will confirm your credit balance in real time, approve the transaction and send you details in a push notification.

Development of the loan contract:
When setting up a crypto loan, the Nexo Oracle is responsible for automatic cash disbursements, asset maintenance, notifications and overall administration.

Development of instant data integration:
Nexo Oracle performs instant asset valuation at any point of time based on data from multiple exchanges. Nexo Oracle conducts instant data aggregation from at least 6 independent sources (exchanges), thereby minimizing overall risk for Nexo and customers. Nexo Oracle also detects real-time changes in asset values ​​and recalculates loan limits. In the event of asset appreciation, the loan limit is immediately and automatically increased.

Development of Repayment Analysis Module:
Nexo Oracle automatically records repayments and further bills for all transactions made by customers. The system automatically maintains interest repayments, outstanding
balances and current loan limits at all times.

Development of automated notifications:
All loan hold actions are executed automatically by Nexo Oracle without any human intervention - changes in asset values ​​and loan limits; cash inflows/outflows; holds issued when minimum cryptoasset limits are reached and rebalance warnings; personal account balances are updated after repayments are calculated; all relevant information will be included in administrative notifications and sent to clients.

Modeling and Algorithm Development:
To ensure the normal operation of the system, Nexo integrates big data analysis, self-tuning algorithm and predictive modeling in Nexo Oracle. In this way, Nexo can guarantee that information received from multiple external data sources is used to make timely business decisions.

Products and services

Instant Crypto Backed Loans
Customers have different financial needs and requirements, and Nexo Instant Crypto Loans understands and executes these needs well. One way to receive instant crypto loans from customers is by same/next day bank transfers via SWIFT, SEPA or ACH to personal or business bank accounts.

Nexo Credit Card
The Nexo Card is a MasterCard with a blockchain system that requires it to process USD from the user's nexo app. Completely free, without any fees or commissions, it is compatible with the user's wallet, although it does not have auto-recharge, which does not charge commissions when making transactions.