Cryptocurrency loans have been getting a lot of traction lately, mainly because they offer a more lucrative passive income, compared to the traditional bank loans, plus the borrower doesn’t have to jump through numerous bureaucratic hoops in order to get the loan. There isn’t a shortage of companies that provide crypto lending services. Still, the majority lacks either a sustainable business model or a custodian; some of them don’t even bother about compliance with the KYC/AML standards.
That is certainly not the case when it comes to Nexo, the blockchain project that stems from the lending firm called Credissimo, founded in 2007 and rated among the top 10 alternative European fintech business entities in 2017. The project currently boasts more than half a million active subscribers, the full KYC/AML compliance thanks to the use of Onfido, the partnership with BitGo for custody purposes, and complete transparency thanks to regular audits by Deloitte.
Therefore, NEXO is very solid fundamentally, which is probably one of the reasons why the currency has been doing so well lately.