Nexo launches regulated crypto-backed credit in Australia

Funds are typically available within 24 hours, offering flexible repayment options without fixed terms or origination fees. Interest rates are tiered, ranging from 0.9% to 21.9%, depending on the credit line chosen and the client's loyalty status. Clients can select between 'Smart' and 'Standard' credit lines, which differ in rates, asset selection, and collateral management based on loan-to-value ratios, according to Peter Stanhope, general manager at Nexo Australia.

Nexo has cautioned users about the inherent risks of borrowing against digital assets, including margin calls and potential liquidation of collateral if its value declines significantly. This launch positions Nexo among a limited number of crypto platforms offering regulated crypto-backed credit solutions in Australia.