Nexo is a decentralized finance service provider whose strong suit is crypto lending. Released in 2017 by a group of finance experts, Nexo has grown steadily over the years and experienced a growth spurt when introducing their Earn product. At the time of writing, Nexo has more than 5 million users over the world and supports more than 60 cryptocurrencies. They also claim to have processed approximately $130 billion. Their member and partner list includes the likes of Ledger, PAXOS, The Bitcoin Foundation, Swiss Finance and Technology Association, European Fintech Association, etc.
Nexo currently offers 11 products in their lineup, which are Buy, Earn, Exchange, Borrow, Booster, Nexo Card, Nexo Prime, Nexo Pro, Corporates, NFT Lending, and Referral. Though their product lineup is diverse, the basics of Nexo is crypto lending. It allows users to borrow crypto and fiat against digital assets (NFT included) as holdings. One of their most recent offerings, Nexo Card, is a credit card service that works in every site that accepts Mastercard by borrowing fiat and using digital assets in Nexo as collaterals.
NEXO's total supply: 1,000,000,000
NEXO's circulating supply: 560,000,011
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