Nexo Doubles Earn on Crypto Interest Rates

2 min read

London, October 28, 2020Nexo, a leading digital assets institution, today announced a two-fold increase on savings interest rates for cryptocurrencies BTC, ETH, XRP, BCH, LTC, EOS, LINK, XLM, TRX, and PAXG, offering yields of up to 8% APY through its Earn on Crypto product.

The substantial hike constitutes a 1% bump in savings interest rates on all supported cryptocurrencies, bringing rates for these assets up to 6% APY. The introduction of Earn in NEXO offers an extra 2% APY for savings in all digital assets the Nexo platform carries, respectively bringing maximum interest rates for the Earn suite to 8% for cryptocurrencies.

The addition of Earn in NEXO to the company’s lineup — a feature allowing clients to collect interest in Nexo’s native token, regardless of the assets held and their volume — also marks the launch of the company’s Nexonomics campaign.

“With volatility rife around the second COVID wave and exacerbated by the US elections, we want to give our clients the financial stability and opportunities to guarantee their peace of mind – now and for the future. Few financial service providers can offer this. That Nexo can raise interest rates and scale up the NEXO’s tokenomics in times like these confirms how vital it is to maintain a sustainable business model and the importance of a market-neutral strategy,” said Nexo Co-founder and Managing Partner Antoni Trenchev.

The interest rate increase and Earn in NEXO launch are the first of a series of announcements under the lender’s Nexonomics initiative, devised to expand Nexo’s tokenomics model and boost NEXO, the enterprise’s token utility and value, while simultaneously amplifying the potential of the Earn on Crypto suite. The full scope of Nexonomics, including a variety of upcoming upgrades and functionalities, will be revealed within December 2020.

Previously, Nexo interest rates ranged between 4% and 5% on cryptocurrencies, and 8% to 10% on stablecoins. The launch of Nexonomics comes hot on the heels of several upgrades to Nexo's Earn on Crypto suite, including the decision to introduce a PAX Gold earn offering to satisfy the community's interest in tokenized gold.

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. 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

Media contacts for Nexo

Stella Zlatareva
[email protected]

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