Nexo is a blockchain-based lending platform that offers users instant cryptocurrency-backed loans.

Nexo

NEXO

50%

Market leadership

NEXO
Nexo

  • Nexo is a popular blockchain-based lending platform

  • Nexo raised $52.5M and is backed by crypto VCs

  • Nexo token, NEXO, is a security token with additional utility features

  • Nexo recently partnered with Mastercard to launch a crypto-backed credit card

  • Nexo's online presence is growing extensively each year with huge communities built on Twitter, Reddit, Facebook and Telegram

56%

Overall rate

Team expertise

75%

Fundrising experience

100%

Token

67%

Industry influence

20%

Social impact

40%

Nexo is one of the leading regulated digital assets institutions in the world. The company's mission is to maximize the value and utility of cryptocurrencies by offering exchange services while providing the top-tier custodial insurance and security of the Nexo Wallet.

The Nexo ecosystem has grown in popularity with the clarity of its all-in-one solution. By holding NEXO Tokens, users can get more from their platform, and with the release of the Nexo Card, more and more people will join the Nexo community.

Verdict
50%
According to its whitepaper, Nexo is the first-ever provider of instant cryptocurrency-backed loans and it intends to solve inefficiencies in the lending market. As of today, it is one of the most popular crypto-lending platforms.
Market leadership
Project Objectives
Nexo is aimed to solve inefficiencies in the lending markets by creating innovative, convenient and sustainable solutions.
Competition
Nexo's top competitors include Ledn, Tesseract, BlockFi, SALT and Unchained Capital.
75%
Nexo was founded by a team of finance professionals and crypto enthusiasts, led by an experienced entrepreneur, Antoni Trenchev, ex-member of Bulgaria's parliament, who turned to blockchain to create the crypto equivalent to a service well-established in traditional finance.

The collective behind Nexo has a combined experience of over 30 years in financial services, including non-crypto lending, investment banking, mergers and acquisitions, and hedge funds. In 2022, there are almost 500 employees listed on Linkedin who work on providing instant crypto credit lines.
Team expertise
  • >470 employees are listed on LinkedIn

  • HQ: London, UK
Founders
Antoni Trenchev

Co-founder and Managing Partner of NEXO
Antoni Trenchev is the co-founder and managing partner of Nexo. He studied finance law at King's College London and the Humboldt University of Berlin. As a member of Bulgaria's parliament, Trehchev advocated for progressive legislation to enable blockchain solutions for a variety of e-government services, most notably e-voting and the storage of databases in a distributed ledger. He frequently comments on crypto and digital finance-related news in mainstream media, including Bloomberg, The Independent, and CNBC.
100%
There's not much information disclosed to the public about Nexo's investment rounds aside from its successful Public Sale in 2018, where the company raised $52.5M. But its latest collaborations with crypto VC funds state that Nexo is a trusted partner for institutional investors.
Fundrising experience
$52.5M
Total investments raised

  • Mar. 2018, Public Sale - $52.5M, investors included Arrington XRP Capital

  • Pre-seed Round - led by Blockground Capital
67%
Nexo has a native token, NEXO, that when locked in the platform grants users benefits such as discounts on interest accumulated on loans and the opportunity to receive interest payments on funds deposited. Token holders also receive dividends from Nexo's profits.

For the past two years, as part of the tokenomics overhaul of NEXO, the company has been repurchasing its native token from the open market.
Token
Ticker: NEXO

Documents: Whitepaper

Max Supply: 1,000,000,000

Token distribution:

  • 25% for the company's overdraft funding reserves;

  • 11.25% for the founders and team;

  • 6% for community building and airdrop campaigns;

  • 5.25% for advisors, legal costs and marketing;

  • 52.5% for sale to investors.

Use of token:

The NEXO token is the first dividend-paying asset-backed security token with additional utility features. NEXO token is an ERC-20 interest-bearing security token which is marketed as "SEC-Compliant."

NEXO token provides utility to Nexo users in the form of higher interest rates, lower borrowing rates, and free withdrawals on their platform. The benefits are determined by a tier-based Loyalty Program. The tiers depend on what percentage of an individual portfolio is held in NEXO Tokens.
20%
Nexo has over four million clients worldwide, with numbers rising dramatically in the past two years after the release of its Earn product. The addition allowed users of the platform to receive interest in their crypto assets. Nexo's partnership with MasterCard and other partnerships with established companies attract new users who want to use their crypto to earn them passive income.
Industry influence
  • Layer-2 solution on Ethereum blockchain

  • Integrations: Polkadot, Cardano, Bitcoin, Chainlink, CoinLedger, Tron

  • Enterprises involved: partnered with Mastercard to launch a crypto-backed credit card

  • Developer activity: Low
Community Building Program
Nexo created a loyalty program that rewards users who keep NEXO in their accounts, giving them preferential interest rates on loans and higher yields on savings. Nexo also distributes 30% of its profits to NEXO token holders in the form of dividends.

In 2022, Nexo established a venture arm with $150 million to support innovative Web 3 projects and acquisitions.
40%
NEXO is growing its online communities with 225k Twitter followers, 260k members on Facebook, and 35k Redditers. Audiences on social media platforms are relatively better than those shown by their competitors.
Social impact
225k followers on Twitter
37k members on Telegram
35k members on Reddit (+26% in the past year)
260k subscribers on Facebook
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Federal Act on Combating Money Laundering and terrorist financing of 10 October 1997

Ordinance on Combating Money Laundering and Terrorist Financing of 11 November 2015

FINMA Circular 2016/7 on "Video and online identification" of 3 March 2016

Regulations of the Self-Regulatory Organisation pursuant to the Anti-Money Laundering Act VQF Financial Services Standards Association regarding the Combating of Money Laundering and Terrorist Financing of 28 September 2015
VQF-Circular 2016/1 concerning Applicability of regulations issued by FINMA of 14 June 2016

VQF information leaflet for the engagement of third parties for the performance of duties of due diligence and / or as AMLA Special Department

VQF Information leaflet for issuing internal directives

Swiss Criminal Code of 21 December 1937