Cryptocurrency trading and lending platform Nexo has introduced a $5,000 minimum limit to use its services as the company evolves into a digital asset wealth manager aimed at the mass, wealthy market.
The move, which will take effect on Feb. 21, is part of the company’s 2025 growth strategy and its recent rebrand, according to a Tuesday press release.
“Guided by principles rooted in traditional finance and the personalized excellence of white-glove private services, we are committed to delivering sustainable wealth solutions for generations to come,” Nexo co-founder Kosta Kantchev said in a statement.
Nexo is one of the few cryptocurrency lending and lending platforms that has survived the bear market of 2022-23 and the collapse of many centralized crypto finance companies at that time. Looking ahead, Nexo obtained initial approval to operate as a licensed entity in Dubai in March last year.
Nexo has more than $11 billion in assets under management, has issued $8 billion in crypto credit and has paid more than $1 billion in interest, the company said.
