Article source: Chloe
The global cryptocurrency market welcomed wave after wave of good news in 2024. From the bull market restart driven by the BTC halving at the beginning of the year and the successful approval of the first U.S. Bitcoin spot ETF, to Trump's victory in the presidential election in November, and now more and more countries' governments and listed institutions integrating Bitcoin into their reserve assets, these events are pushing cryptocurrency step by step towards mainstream financial markets, and the market atmosphere is becoming increasingly optimistic.
According to a 20-month study conducted by the digital asset institution Nexo, involving 5,000 clients across various countries, 67.9% of high-net-worth individuals view digital assets as a long-term wealth solution, while 69% of Bitcoin holders see it as a means of enduring value storage.
With the trend of the cryptocurrency market moving toward mainstream adoption, Nexo recently announced the launch of a brand transformation plan, repositioning itself as a digital asset wealth platform centered around user experience, dedicated to helping customers grow and manage their cryptocurrency assets. By prioritizing customer wealth growth, Nexo will provide tailored long-term value solutions.
Behind the brand transformation, 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 across over 200 jurisdictions globally, thanks to its robust business model and diversified product services. Currently, the platform's transaction processing volume has surpassed $320 billion, with cumulative cryptocurrency loans issued reaching $8 billion, and nearly $945 million in interest paid, fully demonstrating its leading position in the digital asset wealth management field and establishing a development direction for the future: shaping the future of next-generation wealth management.
The digital asset field has rapidly evolved from a niche market into a transformative force for the financial sector, a point that has become 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 holdings.'
At this moment, Nexo is transforming from a single cryptocurrency lending platform to a one-stop digital asset wealth platform through its brand transformation plan. Today, Nexo can not only provide users with basic services such as cryptocurrency trading, earning interest, and crypto-backed loans but has also set a new industry standard, launching the industry's first personal U.S. dollar account, allowing clients in over 150 countries to open personal accounts in U.S. dollars, euros, and pounds, enabling users to deposit and withdraw dollars directly through banking transactions, thus meeting the transparency and convenience needs of institutional and high-net-worth clients.
Moreover, in this brand transformation, Nexo not only adopted a new logo and website but also enhanced the user interface experience to improve user experience with a customer-centric approach. As Nexo's survey indicates, there has been a significant shift in how mature investors manage their wealth, increasingly leaning towards digital tools that can respond instantly to market data and user demand.
To meet the diverse needs of modern investors, Nexo has launched a 360° product suite, focusing mainly on three key service areas. In the revenue growth service area, Nexo provides users with flexible and comprehensive investment options, allowing them to choose revenue plans with flexible or fixed terms based on individual needs, all built on an optimized platform interface to ensure users can easily and flexibly manage their assets anytime and on any device.
At the same time, users can also leverage the cryptocurrency collateral limit to enhance capital utilization efficiency while engaging in flexible trading across 1,500 trading pairs. The platform also offers advanced tools such as cryptocurrency futures and target price swap trading, equipped with professional analysis features to help users make wiser investment decisions in a complex market environment.
In order to achieve efficient asset utilization, Nexo has partnered with Mastercard to launch the world's first 'cryptocurrency-backed' 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 equal to 90% of the fiat currency value of their crypto assets, with no minimum repayment, monthly fees, or inactivity fees. Users can also enjoy a foreign exchange fee waiver of up to €20,000 per month.
Additionally, Nexo has established a tiered loyalty rewards program, providing bespoke services for high-net-worth clients, including a 24-hour professional customer service team.
Successfully weathering the cryptocurrency crisis to win user trust through compliance and safety.
In the cryptocurrency trading market, safety has always been the core concern for users, aside from business innovation, which is also one of the important reasons why Nexo has gained user favor.
It is important to note that in just 2023, the cryptocurrency industry lost 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 once alongside BlockFi and Celsius in the 'golden triangle of cryptocurrency lending platforms,' Nexo faced a trust crisis due to a series of black swan events involving its competitors. Celsius and BlockFi declared bankruptcy in succession 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. Due to a large amount of funds locked in FTX, BlockFi faced a serious liquidity crisis, and by early 2023, BlockFi 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 on the bank crisis during the cryptocurrency bear market, with many users making panic withdrawals, ultimately applying for Chapter 11 bankruptcy protection in New York in July.
These events have raised questions about transparency in the cryptocurrency market, but Nexo has stood out in this crisis thanks to its sound operational strategies and rapid market responsiveness. For example, when Celsius began freezing customer accounts in June 2022, Nexo not only publicly showcased its financial resilience but also made an offer to acquire some of Celsius's assets.
This has enabled Nexo to successfully capture a large share of the market from most competitors, becoming a leader in the lending platform space. Subsequently, Nexo has made security one of its core priorities.
Taking concrete actions to establish a strong security guarantee system to reduce transaction users' and market concerns.
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, regarding user fund security, Nexo has chosen to store user funds in high-security third-party top custody and insurance platforms such as Ledger Vault and FireBlocks, which can provide millions of dollars in insurance coverage 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 appreciate their assets. 'Looking to the future, Nexo will focus on more personalized services, offering autonomy and flexibility in the product suite, along with tools and expertise to assist users, as digital assets merge with traditional investments, Nexo is ready to provide users with compliant high-value investment tools,' says Nexo's 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 revenue options, accessible 24/7 on all devices.
Advanced Crypto Tools: Cryptocurrency-backed credit limits, 1,500 market pairs, crypto futures, target price swaps, and advanced analytics tools offer users growth opportunities.
Global Access: Providing liquidity and seamless payment options through the Nexo Card, ensuring funds are easily accessible.
