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Nexo unveils card feature letting users spend crypto without selling or missing interest
Nexo announced a feature allowing users to spend crypto with the Nexo Card without selling their assets, enabling continued interest accrual even while accessing funds.
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Nexo described a feature of the Nexo Card that lets users access and spend the value of their crypto assets without having to sell them. According to the announcement, funds remain invested and continue to accrue daily interest while being available for spending, with two modes offered: Debit Mode, which draws from available crypto balance, and Credit Mode, which enables spending via fiat credit backed by crypto collateral.
Additional terms stated include daily interest of up to 13% depending on user tier and preferences, up to 2% crypto cashback on Credit Mode transactions, no monthly or inactivity fees, and Mastercard compatibility with support for virtual cards and digital wallets. The card includes security features like instant freeze and spending controls.
Nexo is a cryptocurrency exchange and financial platform established in 2018, offering digital asset management services through integrated custody, exchange, and crypto-backed lending. The platform features an integrated wallet, diverse asset support, flexible and fixed yield products, a Nexo Card for daily transactions, and a tiered loyalty program affecting interest rates and loan terms. Learn more about its key features and regulatory information in the broker profile on Traders Union.
In the previous Nexo update, Traders Union reported on the broker’s launch of a Bitcoin-backed loan product with flexible repayment options and approval based on cryptocurrency holdings. You can read more details on this development in the previous Nexo update on Traders Union.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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