The Nexo Success Story
Every great idea has its inception, ripening, implementation, and ramifications. The Nexo tale features all of them in an awesome way. The concept of instant crypto-backed loans was born of the deficiencies of the market as we experienced them ourselves. There simply were not any credit capabilities worth mentioning in the blockchain space, and the Nexo team embarked upon a mission to radically transform the way crypto wealth is enjoyed. Utilizing our 10+ years in the credit facilitation at Credissimo, a leading European FinTech serving millions of clients, we are in a perfect position to accomplish what we set out to do.
In the months following this decision, Nexo, its advisors, and an ever-growing community of supporters have refined the business model and its efficiency. We have been able to achieve remarkable results in a very short period of time. The Nexo.io Community has grown to the point of being among the three largest crypto-related groups on Telegram, allowing in-depth discussions within the channel, giving us immediate feedback on our actions, and thus enabling us to make the right decisions, especially when faced with difficulty. This has brought Nexo and our product to the forefront of the crypto community and has generated enormous interest.
As soon as we started accepting requests for early access to the Nexo instant crypto-backed loans, we have been literally avalanched by demand up to the point that Nexo now has applications for over $1 billion. Simultaneous and equally impressive is the public hunger for Nexo dividend tokens. The team has been careful to devise the Nexo Tokens as the world’s first US SEC-compliant dividend-paying asset-backed security token with utility features. The fact that the Nexo token holders receive 30% of the company’s net profits has established the Nexo dividend token as a safe haven in the crypto industry. This is enticing in both rising and falling markets, as the company’s business model is neutral to the price fluctuations of crypto and is thus unaffected in its profitability by decline in prices. Furthermore, the Nexo token is a generator of passive income, essentially paying its holders to hodl.
It then comes as no surprise that the Nexo’s Token Sale became a huge success, the Private Pre-Sale being oversubscribed by a factor of 5x and the Public Pre-Sale by a factor of 11x. We ultimately ended up cancelling the Main Token Sale, which had the obvious downside of not being able to welcome a great number of people to the Nexo enterprise at an early stage. For them the way in is through exchanges, starting May 10th, 2018. Albeit an insufficient compensation; we have also prepared an Airdrop, showing our appreciation for their interest and ongoing support.
Fast-forwarding to the present — the Nexo team has for some time now been exclusively focused on product development and launching the best possible platform for Nexo’s instant crypto-backed loans. Our customers are receiving the first loans on April 30th, 2018,
accomplishing something that few other companies can boast - a fully operational platform and live product, prior to listing on exchanges.
This is in line with everything we have done so far — building a company that is fundamentally strong, which has a proven business case and aligning our interest with those of the clients and investors, thus delivering a seamless product and experience all-around. We have been busy working with our partners to establish strategic alliances so as to further enhance the product and to secure financing for the loan requests, which show no sign of slowing down. Nexo partnered with Onfido to meet the highest global standards for KYC/AML compliance. Meeting the demand of the crypto community for instant loans is instrumental to the success of Nexo and the team spares no efforts to make this happen.
The good news is that more good news is underway — both for clients and investors of Nexo. Aside from the timely launch of the crypto-backed loans, the listing on a Top 10 exchange by volume, and the establishing of vital partnerships, we will be bringing exciting announcements about the concrete steps that will allow Nexo to serve an as large as possible part of the loan requests, delivering on our promise to provide the community with the best that Crypto FinTech has to offer — allowing people to enjoy their crypto wealth without selling it and thus altering the way the entire class of crypto assets is appreciated.