The global cryptocurrency market welcomed wave after wave of positive news in 2024. From the bull market restarting driven by the BTC halving at the beginning of the year and the successful approval of the first Bitcoin spot ETF in the U.S., to Trump's victory in the presidential election in November, and now an increasing number of national governments and listed institutions incorporating Bitcoin into reserve assets, these events are driving cryptocurrencies step by step toward the mainstream financial market, and the market atmosphere is becoming increasingly optimistic.
According to a 20-month study by the digital asset institution Nexo, surveying 5,000 clients across countries, 67.9% of high-net-worth individuals view digital assets as a long-term wealth solution, while 69% of Bitcoin holders see them as a lasting store of value.
With the trend of the cryptocurrency market moving mainstream, Nexo recently announced the launch of a brand repositioning plan, rebranding itself as a digital asset wealth platform, centered around user experience, dedicated to helping customers grow and manage their crypto assets. By prioritizing customer wealth growth, Nexo will offer tailored long-term value solutions.
Behind the brand repositioning, meeting the diverse business needs of investors
Since its establishment in 2018, Nexo, headquartered in Switzerland, has gained the trust of retail and institutional investors from over 200 jurisdictions worldwide with its robust business model and diversified product services. Currently, the platform's trading volume has surpassed $320 billion, cumulative cryptocurrency credit issuance reached $8 billion, and nearly $945 million in interest has been paid, fully demonstrating its leading position in the digital asset wealth management field and laying the foundation for future development: shaping the future of next-generation wealth management.
The digital asset sector has rapidly evolved from a niche market to a transformative force in the financial realm, which has become even more 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 their wealth portfolio."
At this moment, Nexo is transforming from a single cryptocurrency lending platform to a one-stop digital asset wealth platform through its brand repositioning plan. Today, Nexo not only offers users basic services such as cryptocurrency trading, earning interest, and crypto collateral loans, but has also set new industry standards by launching the first personal dollar account in the industry, providing dollar, euro, and pound accounts in individual names for clients in over 150 countries, enabling users to deposit and withdraw dollars directly through bank transactions, thus meeting the demands of institutions and high-net-worth clients for transparent and convenient transactions.
Moreover, in this brand repositioning, Nexo not only adopted a new logo and website but also enhanced the user interface experience centered around the customer to improve user experience. Nexo's survey indicates that there has been a significant shift in the way mature investors manage wealth; they are increasingly inclined towards digital tools that can instantaneously respond to market data and user needs.
To meet the diverse needs of modern investors, Nexo has launched a 360° product suite, primarily focusing on three main service areas. In terms of yield growth services, Nexo provides users with flexible and comprehensive investment options, allowing them to choose between flexible or fixed-term yield plans based on personal needs, all built on an optimized platform interface, ensuring users can easily and flexibly manage their assets at any time and on any device.
Moreover, users can also leverage crypto collateral limits to enhance capital efficiency while trading flexibly across 1,500 trading pairs. The platform also offers advanced tools such as crypto futures and target price swap trading, equipped with professional analytical features to help users make more informed investment decisions in complex market environments.
To achieve efficient asset utilization, Nexo has partnered with Mastercard to launch the world's first "crypto-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 over 92 million merchants accepting Mastercard, enjoying 90% of their crypto assets' fiat value as credit, with no minimum payment, monthly fees, or inactivity charges. Users can also enjoy up to €20,000 in fee-free foreign exchange allowances each month.
Additionally, Nexo has established a tiered loyalty rewards program, offering high-net-worth clients customized exclusive services, including a 24-hour professional customer service team.
Successfully navigating the crypto crisis and winning user trust through compliance and security
In the crypto trading market, besides business innovation, security has always been the core issue that users are most concerned about, which is also one of the important reasons Nexo has gained user favor.
It's important to note that in 2023 alone, the cryptocurrency industry suffered losses of at least 50% of assets due to security incidents, with total losses reaching $1.7 billion, highlighting the importance of strict security standards.
As a member of the "golden triangle of crypto lending platforms" alongside BlockFi and Celsius, Nexo has also faced a trust crisis due to a series of black swan events involving competitors. Celsius and BlockFi both announced bankruptcy to the market in 2022. At that time, due to the collapse of FTX, BlockFi encountered serious financial difficulties at the end of 2022, leading to withdrawal suspensions and ultimately filing for Chapter 11 bankruptcy under U.S. bankruptcy law. Due to a significant amount of funds locked in FTX, BlockFi faced a severe liquidity crisis, and by early 2023, it began liquidating assets to repay creditors, with platform users' deposits frozen and unable to retrieve their funds; in the same year, Celsius fell into a run on deposits amidst the cryptocurrency bear market, leading to panic withdrawals and ultimately applying for Chapter 11 bankruptcy protection in New York court in July.
These events have raised questions about transparency in the crypto market, while Nexo has stood out in this crisis with its robust operational strategy and rapid market adaptability. For example, when Celsius froze customer accounts starting in June 2022, Nexo not only publicly demonstrated its financial resilience but also made an offer to acquire some of Celsius's assets.
This has enabled Nexo to successfully capture a large market share from most competitors, becoming a leader in the lending platform sector. Since then, Nexo has prioritized security as one of its core priorities.
Taking concrete actions to build a robust security assurance system to reduce user and market concerns.
According to the official website, Nexo has obtained licenses from multiple countries (Australia, Hong Kong, Italy, etc.) and recently received ISO 27017 and ISO 27018 certifications, further enhancing the platform's compliance and security credibility, thereby increasing user trust.
At the same time, regarding user fund security, Nexo has opted to store user funds with high-security third-party top custodial and insurance platforms like Ledger Vault and FireBlocks, providing millions of dollars in insurance coverage for users' digital assets.
In summary, through strict security standards, a strong compliance system, and innovative product services, Nexo is creating a secure, transparent, and efficient environment for users to manage and enhance their assets. "Looking to the future, Nexo will focus on more personalized services, providing autonomy and flexibility in the product suite, along with tools and expertise that can assist users. As digital assets merge with traditional investments, Nexo is ready to provide compliant, high-value investment tools to users," said Nexo Chief Product Officer Elitsa Taskova.
Now Nexo's 360° product suite fully meets the demands for autonomy and flexibility:
Savings growth: Flexible and fixed-term yield options, accessible 24/7 on all devices.
Advanced crypto tools: Credit lines secured by cryptocurrencies, 1,500 trading pairs, crypto futures, target price swaps, and advanced analytical tools provide users with growth opportunities.
Global access: Providing liquidity and seamless payment options through the Nexo Card, ensuring funds are easily accessible.
