NEXO Price (NEXO-USD)

Launched in 2018, Nexo, a lending platform, provides instant loans that are backed by crypto assets to users. Users can access a loan in fiat currencies or stablecoins after putting up a collateral on the blockchain-based platform. Further, the NEXO token enables interest on deposits as well as dividends for its holders. Additionally, with the Nexo card, users can earn rewards on their transactions or earn daily interest on their deposits on the platform. Nexo has become a leading lending name in the crypto space and is available in more than 200 jurisdictions. The platform has more than five million users and has processed transactions worth over $130 billion, so far. The maximum supply of Nexo tokens is capped at 1 billion. In December 2022, Nexo announced it will exit from the U.S. over the next few months, owing to a challenging regulatory environment.