The global crypto market welcomed a wave of positive news in 2024. From the bull market restart driven by 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 the increasing number of national governments and listed institutions incorporating Bitcoin into their reserve assets, these events are propelling cryptocurrencies towards the mainstream financial market, and the market atmosphere is becoming increasingly optimistic.
According to a long-term study conducted by the digital asset institution Nexo over 20 months involving 5,000 customers across countries, 67.9% of high-net-worth individuals view digital assets as a long-term wealth solution, while 69% of Bitcoin holders regard it as a means for lasting value storage.
With the trend of the crypto market moving towards the mainstream, Nexo recently announced the launch of a brand transformation program to reposition itself as a digital asset wealth platform, centering on user experience and committed 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 transformation lies the fulfillment of investors' diversified business needs.
Since its establishment in 2018, Nexo has been headquartered in Switzerland and, with a solid business model and diversified product services, has gained the trust of retail and institutional investors in over 200 jurisdictions worldwide. Currently, the platform's transaction processing volume has surpassed $320 billion, with cumulative cryptocurrency loans reaching $8 billion and nearly $945 million in interest paid, fully showcasing 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 into a transformative force in the financial realm, particularly evident after the approval of the Bitcoin spot ETF. Nexo believes, "Investors are ready to enter the market, with 72% of retail investors considering digital assets to be an important part of their wealth composition."
At this moment, Nexo is transforming from a single crypto lending platform into a one-stop digital asset wealth platform through its brand transformation program. Today, Nexo not only provides users with basic services such as buying and selling cryptocurrencies, earning interest, and crypto collateral loans but has also set new industry standards by launching the first personal dollar account in the industry, offering dollar, euro, and pound accounts opened in personal names for clients in over 150 countries, enabling users to directly deposit and withdraw dollars through bank transactions, thereby meeting the needs for transparent and convenient transactions for institutional and high-net-worth clients.
Moreover, in this brand transformation, Nexo not only adopted a new logo and website but also enhanced user experience by improving the interface through a customer-centric approach. Nexo's survey indicates that mature investors in the current market are undergoing significant changes in how they manage their wealth, with a growing preference for 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 focused primarily on three main service areas. In terms of yield growth services, Nexo offers users flexible and comprehensive investment options, allowing them to choose between flexible or fixed-term yield plans based on personal needs. These services are built on an optimized platform interface, ensuring that users can easily and flexibly manage their assets anytime and on any device.
Additionally, users can leverage cryptocurrency collateral limits to enhance fund utilization efficiency while trading flexibly across 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 informed investment decisions in complex market environments.
To realize 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 daily 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 minimum repayment amounts, monthly fees, or inactivity fees. Users can also enjoy a forex fee-free limit of up to €20,000 per month.
In addition, Nexo has established a tiered loyalty rewards system, offering tailored exclusive services for high-net-worth clients, including a 24-hour professional customer service team.
Successfully weathering the crypto crisis, Nexo has earned user trust through compliance and security.
In the crypto trading market, beyond business innovation, security remains the core concern for users, which is one of the key reasons Nexo has garnered user favor.
It is important to note that in 2023 alone, the cryptocurrency industry suffered losses of at least 50% of assets due to security incidents, totaling $1.7 billion, highlighting the importance of stringent security standards.
As a platform once ranked alongside BlockFi and Celsius in the 'golden triangle of crypto lending platforms,' Nexo faced a trust crisis due to a series of black swan events involving competitors, with Celsius and BlockFi both declaring bankruptcy to the market in 2022. At that time, BlockFi encountered severe financial difficulties at the end of 2022 due to the collapse of FTX, leading to suspended withdrawals and ultimately filing for bankruptcy under Chapter 11 of U.S. bankruptcy law. With a significant amount of funds locked in FTX, BlockFi faced a liquidity crisis, and by early 2023, began liquidating assets to repay creditors, freezing users' deposits and preventing them from accessing their funds. In the same year, Celsius fell into a run on deposits amid the cryptocurrency bear market, with a large number of users panic withdrawing and ultimately applying for Chapter 11 bankruptcy protection in New York in July.
These events have raised questions about transparency in the crypto market, while Nexo has stood out during this crisis with robust operational strategies and rapid market adaptability. For example, when Celsius began freezing customer accounts in June 2022, Nexo not only publicly demonstrated its platform's financial resilience but also proposed to acquire some of Celsius's assets.
This allowed Nexo to successfully capture a significant market share from many competitors, becoming a leader in the lending platform space. Since then, Nexo has prioritized security as one of its core priorities through
Taking concrete actions to build a robust security assurance system to reduce user and market concerns regarding transactions.
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 boosting user trust.
At the same time, concerning user fund security, Nexo has chosen to store user funds in high-security third-party top custodians and insurance platforms such as Ledger Vault and FireBlocks, providing millions of dollars in insurance protection for users' digital assets.
In summary, through stringent 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 ahead, Nexo will focus on more personalized services, providing autonomy and flexibility in its product suite, as well as the tools and expertise to assist users. As digital assets converge with traditional investments, Nexo is ready to offer users 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 available 24/7 across all devices.
Advanced crypto tools: Credit lines secured by cryptocurrencies, 1,500 trading pairs, crypto futures, target price swaps, and advanced analytics provide users with growth opportunities.
Global access: The Nexo card offers liquidity and seamless payment options, ensuring funds are easily accessible.
