Nexo Supports Digital Asset Transactions via Dual Mode Capability, Featuring Debit, Credit Transfers

Nexo, the 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 “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 need to convert digital assets to fiat before spending, 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 can handle it. Change modes within the Nexo app, and spend based on your budget and needs.

  • Experience Seamless Payments: Spend your available EUR, USD, and GBP balance or withdraw up to €10,000 in cash each month.
  • 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:Y ou 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, zero fees, and seamless access with Apple Pay and Google Pay.”

As covered, Nexo claims it is “the world’s leading digital assets institution.”

The company’s mission is to maximize “the value and utility of digital assets by offering a comprehensive suite of products that include advanced trading solutions for retail and institutional clients, aggregation of liquidity from leading venues, and tax-efficient asset-backed credit lines.”

In 2022, the enterprise launched its investment arm Nexo Ventures, “which now boasts over 60 portfolio companies.” Nexo has reportedly “processed $130+ billion for 6,000,000+ satisfied users across more than 200 jurisdictions.”

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