What is Nexo?

Nexo is the most advanced platform for instant crypto loans, and the only blockchain company to provide its services in 45+ fiat currencies and in more than 200 jurisdictions.

Nexo gives digital asset holders the best of both worlds - instant access to cash and retaining ownership of their assets. Its global operations are powered by the profound lending experience of Credissimo, a leading FinTech Group serving millions of people across Europe for over 10 years, while multiple banking and financial service regulators.

Nexo’s instant lending platform combines seamless user-experience with military-grade security and with 256-bit encryption. Clients funds are held in individually assigned multi-signature wallets in cold storage, held with the only qualified audited and Goldman Sachs-backed custodian BitGo.

BitGo is Cryptocurrency Security Standard Level 3 as well as SOC 2 compliant.

Nexo is being advised by multiple prominent figures from the Tech and Finance sectors, including Michael Arrington - Founder of TechCrunch and Trevor Koverko - CEO of Polymath

How does a Nexo loan work?

You can watch this ~4 minutes long video How to use Nexo platform, read the explanation below or check this article where you can also find screenshots and examples.

You could just transfer your crypto assets to your Nexo account and get an instant crypto loan (credit line), which you can immediately access using the free Nexo Credit Card (pending development) or by withdrawing in 45+ currencies to your personal/business bank account, or USDT to your Tether address.

In order to obtain a loan, follow these steps:

1. Sign up for your Nexo account at https://platform.nexo.io/;
2. Deposit your crypto assets. The platform supports BTC, ETH, XRP, LTC, stablecoins, NEXO and BNB (ERC-20) with new major altcoins being added on a regular basis;
3. Undergo the Basic/Advanced Verification in the My Profile section;
4. Go to “Withdraw Loan” where you will see the available loan amount;
5. Choose the preferred withdrawal method and enter your bank account/Tether address;
6. Enjoy spending your Nexo Loan.

What is Nexostatistics.com?

Nexostatistics.com monitors Nexo's known wallet addresses which are used to fund loans. By tracking outgoing transactions we are able to estimate the amount of total USDT and USDC loans.

Note that this data is only about USDT+USDC loans and FIAT loans are not included. Nexo has announced that on 5th of December total processed dollars were $313,896,663.14, which was about 15 times greater than USDT loans at the time.