Nexo, a UK-based regulated financial institution for digital assets, announced on Monday the launch of its in-app cryptocurrency service, Nexo Exchange. According to Nexo, the Nexo Exchange allows immediate, no-limits conversion between more than 75 crypto and fiat currency pairs directly within the Nexo mobile application.
Nexo further revealed the exchange additionally provides an on-ramp to crypto for newcomers to the crypto space, and facilitates access to the company’s native NEXO Token, eliminating the need for third-party services for its acquisition and trade. Nexo Co-founder and Managing Partner, Antoni Trenchev, shared more details about the new exchange by stating:
“Fast, transparent, and inexpensive transactions are the backbone of fintech, but making them easily accessible and secure in a seamless, intuitive environment is the single most important step towards mass crypto adoption. The Exchange contributes to the efficiency and flexibility of our existing services and boosts the utility, liquidity and growth potential of the NEXO Token. In complementing our entire offering, this new tool illustrates Nexo’s holistic business mindset – building not just solutions, but a comprehensive and sustainable digital asset management ecosystem accessible to all.”
Nexo went on to add that The exchange is the latest in a series of product launches, upgrades, and announcements shaping its offering into full-suite retail banking services for digital assets and strengthening the NEXO Token’s economy. In the third quarter of 2020 alone, the company introduced higher yields, the Earn in NEXO opt-in, a $12-million buyback program, and a new Loyalty scheme.