Nexo (NEXO) - ICO Review, Rating and Details of Nexo ICO (Token Sale) - Rating: Not Rated

Nexo delivers the World’s First Instant Crypto-backed Loans, thus resolving a crucial inefficiency for the crypto world. Up to this very moment, no alternatives existed for digital asset owners to enjoy their crypto wealth except selling them. The innovative model of Nexo brings to the crypto community the best of both worlds – retaining 100% ownership of their digital assets while having immediate access to cash. The Instant Cryptobacked Loans are an automatic, flexible and cost-efficient way of obtaining liquidity that is secured by the value of the client’s digital assets. The whole process is completed in just a few simple clicks. No hidden fees, no capital gains taxes, no credit checks. Transparency is guaranteed through the use of blockchain technology, smart contracts and algorithmic processes executed by the Nexo Oracle.

Problems & Solutions

The Problems

  • Idle Value of Digital Assets - Investors around the globe currently own digital and crypto assets worth billions of dollars that remain idle. The value of those assets is expected to grow to over $5 trillion by 2025.

  • Slow Liquidation Process - Liquidating digital assets is a slow process that might take from a few days up to a couple of months until completion, depending on the asset class.

  • Loss of Ownership - It is not possible to conveniently leverage a digital asset in order to pursue a lucrative investment opportunity or meet a short-term liquidity need without having to sell assets with good upside potential.

  • Expensive & Tax Inefficient - By selling a digital asset (i.e. Bitcoin), its owner incurs exchange and withdrawal fees and becomes liable to capital gain tax which makes short-term liquidation an expensive and tax inefficient solution.

  • Cumbersome Credit Checks - Access to unsecured financing normally requires lengthy and cumbersome credit checks that can result in lower personal credit score.

  • Lack of Trust and Transparency - In many cases, transactions involving digital assets are settled through P2P agreements that lack security and transparency on both sides.

Nexo's solutions

  • Unlock the Value of Digital Assets - Clients obtain an instant loan in fiat currency (EUR, USD, etc.) or cryptocurrency by placing their digital assets in an Nexo Account.

  • Quick Access to Cash - Access cash conveniently anywhere around the world via bank transfer, cryptocurrency or the Nexo credit card and seize investment opportunities or meet liquidity needs immediately.

  • Retain Ownership - Clients retain 100% ownership of their digital assets. Without the need to sell them, the borrowers now keep the full benefit from the assets' value appreciation.

  • Cost & Tax Efficient - Crypto оverdrafts are an affordable, flexible and efficient solution that also does not incur any tax liabilities or exchange and hidden fees.

  • No Credit Checks  - Nexo offers an instant crypto loan, which eliminates the need for cumbersome credit checks that might lead to credit score deterioration.

  • Transparent Blockchain Contracts - Ownership of digital assets is secured and guaranteed by transparent blockchain loan Repo for Digital Assets contracts.

Features & Highlights

  • Live Automated Platform - Nexo has a fully operational instant lending platform with seamless user experience and military-grade security with 256-bit encryption.

  • Insured Custodian - Nexo partners with to secure all crypto assets. BitGo is insured by Lloyd's, backed by Goldman Sachs and is CCSS Level 3 and SOC 2 compliant.

  • Regulatory Compliance - Nexo is using to adhere to the strictest KYC and AML global compliance standards. Onfido is also trusted by Coinbase, Revolut, HSBC, Nationwide, TransferWise and Bittrex.

Token Allocation

"Investors","Overdraft Funding Reserves","Founders & Team","Community Building & Airdrop","Advisors, Legal & PR" {"name": "Investors","value": 52.5},{"name": "Overdraft Funding Reserves","value": 25},{"name": "Founders & Team","value": 11.25},{"name": "Community Building & Airdrop","value": 6},{"name": "Advisors, Legal & PR","value": 5.25}

Token Utility & Use Cases

The NEXO Token is the world’s first compliant token with utility features, that will be offered to qualified investors in accordance with US and other laws. The NEXO Token is ERC20-compliant and embedded in the Ethereum blockchain as a smart contract.

  • Interest Discount - The key utility feature of the NEXO token is the discount that token holders receive whenever they repay the interest on their loans using the NEXO token.

  • Increased Loan Limits - Similar to BTC and ETH, NEXO tokens can also be used in the Nexo Account to obtain instant financing based on the tokens’ value. Nexo further incentivizes the use of NEXO tokens in the Account by offering discounts on the loan interest.

Roadmap & Updates

  • 2007
    • Credissimo Founded - Four entrepreneurs set out to disrupt the inefficient lending market by providing convenient online consumer loan products. This was possible through adoption of the latest technologies.
  • 2010
    • Proprietary Process Automation - Credissimo developed in-house an innovative technology that introduced automated, near-instant credit approval seven days a week.
  • 2013
    • E-Commerce & Utility Bills Payments - Driven by a vision to provide convenient solutions for its customers, Credissimo diversified its products and introduced e-commerce financing and direct utility bill payments – 300+ merchants onboarded.
    • Mobile Adoption - The development of a user-friendly mobile website and iPhone/Android apps allowed the company to process over 1,000,000 online loan applications.
  • 2014
    • Initial Public Offering (IPO) - On May 7, 2014, Credissimo successfully listed 2.5 million shares on the public markets.
  • 2015
    • Big Data Scoring & Analytics - Adopting Machine Learning and Big Data technology further enhanced Credissimo’s loan scoring algorithms.
  • 2016
    • Bitcoin & Chatbot Integration - Credissimo pioneered a Bitcoin loan repayment option. The company was the first consumer lender in the world to launch an automated lending chatbot, for which it received the “Innovation of the Year” Award that year.
  • 2017
    • FinTech Award - Credissimo Reached the Top 10 Alternative Finance in European FinTech Awards 2017 and received two Forbes Business Awards 2017 for “Financial Sector Innovations” and “Quality of Services”.
    • Nexo - By continuing to work at the technological frontier, Credissimo is powering the world’s first instant crypto loans.

Partnership Overview

  • BitGo - BitGo is changing the way the financial system works. Digital assets are the most exciting investment vehicles in decades, and institutional investors need services and solutions they can trust. BitGo eliminates risk and increases transparency by providing the most secure and compliant custodial and liquidity solutions.

  • Onfido - Onfido is a leading identity verification provider, and works with global clients including Google, Coinbase, Revolut, HSBC, TransferWise and many more.

  • Securitize - Securitize is the platform for the issuance and management of digital securities.

  • TrueUSD - The first regulated stablecoin fully backed by the US Dollar.

  • Crypto Valley Association - The Crypto Valley Association is an independent, government-supported association established to take full advantage of Switzerland’s strengths to build the world’s leading blockchain and cryptographic technologies ecosystem.

Social Media Links

Twitter Updates

  • Watch Nexo‘s Co-Founder @AntoniNexo on @Nasdaq Marketsite‘s “Innovators with @MarketJane” in an intriguing intervie…
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