Bitcoin
$42,535.01-3.45%
Ethereum
$2,947.83-5.61%
XRP
$0.933539-3.50%
Cardano
$2.16-3.67%
Polkadot
$28.04-5.85%
Stellar
$0.267289-4.10%
Dogecoin
$0.201678-2.64%
Chainlink
$23.36-5.98%
Uniswap
$22.77-9.25%
Polygon
$1.10-3.83%
Algorand
$1.69-6.86%
Cosmos
$36.96-6.44%
Litecoin
$147.16-3.60%
Bitcoin Cash
$492.46-3.55%
Wrapped Bitcoin
$42,504.91-3.48%
The Graph
$0.666516-3.66%
Filecoin
$58.56+1.00%
Tron
$0.086748-3.27%
Ethereum Classic
$46.00-3.50%
Tezos
$6.17-5.07%
Aave
$274.22-8.67%
Monero
$239.79-1.29%
NEO
$37.82-4.36%
EOS
$3.87-3.77%
IOTA
$1.14-5.31%
BitTorrent
$0.003124-3.43%
Bitcoin SV
$128.58-1.23%
Maker
$2,381.82-0.47%
Waves
$23.14-3.97%
Dash
$156.52-4.61%
Decentraland
$0.672322-5.02%
Decred
$108.66-5.39%
ICON
$1.50-7.98%
OmiseGO
$9.49+3.72%
NEM
$0.142236-4.88%
Zcash
$105.93-4.98%
Paxos Standard
$0.991027-0.91%
Yearn Finance
$29,685.48-3.48%
NuCypher
$0.268381-5.75%
Ren
$1.02-9.13%
Qtum
$9.30-5.23%
Bitcoin Gold
$49.72-5.66%
Basic Attention Token
$0.610700-5.90%
Fetch.ai
$0.740810-10.06%
0x
$0.853977-6.32%
Kava.io
$5.51-4.72%
Bancor
$3.42-4.75%
Band Protocol
$7.14-6.38%
Siacoin
$0.014480-3.83%
Nano
$4.28-5.11%
Loopring
$0.368477-2.88%
Numeraire
$40.58-3.05%
Storj
$1.04-5.05%
Civic
$0.414455-4.78%
Lisk
$2.71-5.03%
PAX Gold
$1,758.93-0.30%
Orchid
$0.309789-4.42%
Enzyme
$140.75-5.83%
Augur
$20.55-2.14%
Aragon
$4.41-6.47%
district0x
$0.145183-6.30%
Kyber Network
$1.40-5.60%
SingularDTV
$0.001225+3.95%
Tether
$1.00-0.02%
USD Coin
$1.00-0.00%
Dai
$0.999840-0.11%
Breaking news: Ethereum Developer Virgil Griffith Pleads Guilty to Conspiracy Charge in North Korea Sanctions Case

Crypto Lender Nexo Adds Exchange Service to Its Mobile App

Nexo's new service provides more than 75 cryptocurrency and fiat currency pairs for trading.

Feb 1, 2021 at 1:00 p.m. UTC
Updated Sep 14, 2021 at 11:04 a.m. UTC

Cryptocurrency lender Nexo has launched an exchange service for a range of digital assets within its mobile app.  

According to an announcement Monday, the new service provides more than 75 cryptocurrency and fiat currency pairs, with 17 cryptocurrencies supported. There are no limits on the number of exchanges a user can make in the app (available on iOS and Android) and any trade can be up to $50,000 in value, a Nexo representative told CoinDesk.

Users will be able to transfer digital assets to their Nexo Wallets from any other wallet or exchange and make fiat currency deposits directly through transfers from their bank accounts.

Nexo will not hold all the assets being traded. Instead, a “Smart Routing System” connects to multiple exchanges and splits orders depending on the price per volume, fixing a valuation at the moment an order is submitted, the representative said.

While the person wouldn't name the exchanges used for liquidity, the representative said the Smart Routing System connects to five of "most trusted and well-capitalized exchanges simultaneously," aiming to offer the "most competitive" prices.

“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,” said Nexo co-founder and managing partner Antoni Trenchev in the announcement.

In the first half of 2021, the firm plans to launch a crypto credit card in its bid to offer a full suite of retail banking services for digital assets. Nexo holds multiple licenses in order to comply with laws and regulations in the 200-plus jurisdictions in which it operates.

Correction (Feb. 1, 13:15 UTC): Corrected headline that erroneously described Nexo as a crypto insurer.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...