Nexo is a crypto banking and centralised lending platform which I’ve used for several months now, in parallel with BlockFi, which I reviewed previously.
They began operations in 2018 and are regulated as a financial institution in the European Union. Nexo started off as a spin-off of their Fintech app, Credissimo.
Similar to BlockFi, users can store their crypto assets on Nexo and earn interest on them, up to 12% annual interest on stablecoins if paid in Nexo tokens, otherwise 10% on stablecoins.
For non-stablecoins, Nexo offers lending rates of 6% (if earned in Nexo tokens) to 8% (if earned in-kind). Supported assets include BNB, LTC, XLM, BCH, LINK, ETH, EOS, BTC etc.
Nexo headline rates
Nexo lends these crypto assets out to borrowers, typically institutions, who might take a short position on them or use it for other purposes....