The global crypto market welcomed a wave of positive news in 2024. From the bull market re-ignited by the Bitcoin halving at the beginning of the year and the successful passage of the first Bitcoin spot ETF in the U.S., to Trump's victory in the presidential election in November, and now with more and more national governments and listed institutions incorporating Bitcoin into reserve assets, these events are pushing cryptocurrencies step by step toward the mainstream financial market, and the market atmosphere is becoming increasingly optimistic.
In the trend of the crypto market moving towards the mainstream, Nexo recently announced the launch of a brand revitalization plan, repositioning itself as a digital asset wealth platform, centered around user experience, dedicated to helping clients grow and manage their crypto assets. By prioritizing customer wealth growth, Nexo will provide tailored long-term value solutions.
Behind the brand revitalization is the fulfillment of investors' diversified business needs
Since its establishment in 2018, Nexo has been headquartered in Switzerland, gaining the trust of retail and institutional investors in over 200 jurisdictions worldwide with a robust business model and diversified product services. Currently, the platform's trading volume has exceeded $320 billion, with a cumulative cryptocurrency credit issuance reaching $8 billion, and nearly $945 million in interest paid, fully demonstrating its leading position in the field of digital asset wealth management and laying the foundation for future development: shaping the future of next-generation wealth management.
Currently, the digital asset field has rapidly evolved from a niche market into a force capable of bringing transformative changes to the financial sector, especially evident after the approval of Bitcoin spot ETFs. Nexo believes that "investors are ready to enter the market, with 72% of retail investors viewing digital assets as an important component of wealth allocation."
At this opportune moment, Nexo is transforming from a single crypto lending platform to a one-stop digital asset wealth platform through its brand revitalization plan. Today, Nexo not only provides users with basic services such as cryptocurrency trading, earning interest, and crypto collateral loans, but also sets new industry standards by launching the first personal dollar account in the industry, offering customers in over 150 countries personal accounts denominated in dollars, euros, and pounds, allowing users to deposit and withdraw dollars directly through bank transactions, thus meeting the demand for transparent and convenient transactions from institutional and high-net-worth clients.
Moreover, in this brand revitalization, Nexo has not only adopted a new logo and website, but also enhanced the user interface experience centered around customers to improve user experience. Nexo's research indicates that mature investors in the market are undergoing significant changes in how they manage their wealth, increasingly leaning towards digital tools that can respond instantly to market data and user needs.
To meet the diverse needs of modern investors, Nexo has launched a 360° product suite, focusing primarily on three main service areas. In terms of yield growth services, Nexo offers users flexible and comprehensive investment options, allowing them to choose flexible or fixed-term yield plans based on personal needs, all built on an optimized platform interface that ensures users can easily and flexibly manage their assets anytime, anywhere.
At the same time, users can also utilize cryptocurrency collateral limits to enhance fund utilization efficiency while trading flexibly among 1,500 trading pairs. The platform also offers advanced tools such as cryptocurrency futures and target price swap trading, equipped with professional analytical functions to help users make more informed investment decisions in complex market environments.
Moreover, to achieve efficient asset utilization, Nexo has partnered with Mastercard to launch the world's first "cryptocurrency-supported" payment card, the "Nexo Card." This payment card allows users to directly use their digital assets in everyday life, providing high liquidity and a seamless payment experience. Users can spend at 92 million merchants worldwide that accept Mastercard, enjoying a credit limit of 90% of the fiat currency value of their crypto assets, without having to pay minimum repayment amounts, monthly fees, or inactivity charges. Each month, users can enjoy a foreign exchange fee exemption limit of up to €20,000.
In addition, Nexo has established a tiered loyalty rewards program, offering high-net-worth clients tailored exclusive services, including a 24-hour professional customer service team.
Successfully navigating the crypto crisis, gaining user trust through compliance and security
In the crypto trading market, besides business innovation, security is always the core issue of greatest concern to users, which is also one of the important reasons why Nexo is favored by users.
It is worth noting that in 2023 alone, the cryptocurrency industry suffered losses of at least 50% of its assets due to security incidents, with total losses reaching $1.7 billion, highlighting the importance of strict security standards.
As a platform that was once part of the "golden triangle" of crypto lending platforms alongside BlockFi and Celsius, Nexo also faced a trust crisis due to a series of black swan events from its competitors, with Celsius and BlockFi respectively declaring bankruptcy in 2022. At that time, due to the collapse of FTX, BlockFi encountered severe financial difficulties at the end of 2022, leading to a withdrawal freeze and ultimately filing for bankruptcy under Chapter 11 of U.S. bankruptcy law. Additionally, with a large amount of funds locked in FTX, BlockFi faced a severe liquidity crisis, and by early 2023, it began liquidating assets to repay creditors, while platform users' deposits were frozen and could not be retrieved; that same year, Celsius fell into a run crisis during the cryptocurrency bear market, with a large number of users panic withdrawing, and ultimately applied for Chapter 11 bankruptcy protection in New York in July.
These events have raised doubts about the transparency of the crypto market, while Nexo has stood out in this crisis with its robust operational strategy and quick market responsiveness. For instance, when Celsius began freezing customer accounts in June 2022, Nexo not only publicly demonstrated its platform's financial resilience but also proposed an offer to acquire some of Celsius's assets.
This has also allowed Nexo to successfully capture a large share of the market from its competitors, becoming a leader in the lending platform space. Subsequently, Nexo has prioritized security as one of its core priorities, establishing a strong security assurance system through practical actions to alleviate concerns among trading users and the market.
According to the official website, Nexo has obtained licenses in multiple countries (Australia, Hong Kong, Italy, etc.), and recently received ISO 27017 and ISO 27018 certifications, further enhancing the platform's compliance and security reputation, thereby increasing user trust.
At the same time, regarding user fund security, Nexo chooses to store user funds in high-security third-party top custodial and insurance platforms such as Ledger Vault and FireBlocks, providing millions of dollars in insurance protection for users' digital assets.
In summary, through strict security standards, a robust compliance system, and innovative product services, Nexo is creating a safe, transparent, and efficient environment for users to manage and grow their assets. "Looking to the future, Nexo will focus on more personalized services, providing autonomy and flexibility in its product suite, and offering tools and expertise that can assist users. As digital assets merge with traditional investments, Nexo is ready to provide users with compliant high-value investment tools," said Nexo's Chief Product Officer, Elitsa Taskova.
Now, Nexo's 360° product suite fully meets the needs for autonomy and flexibility:
Savings Growth: Flexible and fixed-term yield options, accessible 24/7 across all devices.
Advanced Crypto Tools: Cryptocurrency-backed credit lines, 1,500 trading pairs, crypto futures, target price swaps, and advanced analytics tools provide users with growth opportunities.
Global Access: Providing liquidity and seamless payment options through the Nexo card, ensuring funds are easily available for use.
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