Nexo Rolls out Dual Mode Capability on its Signature Crypto Mastercard
Aug 31, 2023•3 min read
- Nexo has enabled an switch between debit and credit – the Dual Mode – on the Nexo Card.
- First-of-its-kind Dual Mode capability blends unparalleled usability with cutting-edge technology to ease how we use cryptocurrency for daily payments.
- A sleek, all-in-one solution, the Nexo Card is accepted at over 100 million merchant locations worldwide that accept Mastercard.
VILNIUS, Lithuania, AUGUST 31, 2023 – Nexo, a leading institution for digital assets, is redefining daily crypto transactions by unveiling the world’s first Dual Mode capability featuring both debit and credit. This strategic enhancement will further enrich the capabilities and user experience of the pioneering Nexo Card, released in 2022 in partnership with Mastercard and DiPocket.
With the cutting-edge Nexo app, clients can effortlessly toggle between modes on the Nexo Card, tailoring their spending in real-time, all while accumulating up to 9% interest on their holdings – an industry-leading rate that turns the card into a powerful wealth-building tool.
As blockchain technology continues to mature, it is increasingly serving as a practical and transformative bridge between traditional and crypto finance, offering the potential for a more efficient and collaborative future between the two. Still, crypto holders continue to face several challenges such as the limited acceptance of crypto at merchants, and navigating multiple complex platforms. Against this backdrop, Dual Mode emerges as a visionary solution to address these issues head-on.
Designed with the modern crypto enthusiast in mind, and turning community feedback into a game-changing solution, the Nexo Card, which is now integrated with the new Dual Mode capability, offers all these benefits:
- Switch Between Credit & Debit Mode
Everyday expenses or larger purchases — the Nexo Card has got you covered. Change modes effortlessly within the Nexo app, and spend based on your budget and needs.
- Pay in Your Local Currency
Make purchases at over 100 million merchants worldwide and save on foreign transaction fees.
- Earn Up to 9% on Your Balance
You don’t need to spend your assets to earn on them. Your balance accumulates up to 9% interest per year, paid out daily.
- Spend & Earn with Рeace of Mind
Nexo’s fraud detection system and 24/7 support keep your account safe by identifying suspicious activity and providing assistance when needed.
Antoni Trenchev, Co-founder and Managing Partner at Nexo, said: “The Nexo Card embodies the pinnacle of customer-centric innovation, cultivated from user-driven needs that Nexo has been diligently addressing over the years. By bringing the pioneering Nexo Card with the Dual Mode capability to market, Nexo has further strengthened its position as a leading innovator in the crypto space. The launch underscores our commitment to proactively meet the evolving needs of our global customer base by introducing a novelty that resets the standards for what customers can expect from their financial service providers.”
The Dual Mode capability on the Nexo Card builds upon the advanced infrastructure already provided by Mastercard and DiPocket, and continues to offer features like up to 2% crypto rewards on every credit mode purchase, and seamless access with Apple Pay and Google Pay.
About Nexo
Nexo is a leading digital assets institution. Committed to enhancing the value and utility of digital assets, the company offers a comprehensive suite of services including advanced trading solutions, liquidity aggregation from top trading venues, and flexible asset-backed credit lines. In 2022, the enterprise launched its investment arm Nexo Ventures, which now boasts over 60 portfolio companies. Since its inception in 2018, Nexo has processed $130+ billion for 7,000,000+ satisfied users across more than 200 jurisdictions. For more details, visit: nexo.com.
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