Nexo includes new cryptocurrency exchange service in its mobile app

Nexo includes new cryptocurrency exchange service in its mobile app

Cryptocurrency lender -Nexo has recently announced the launch of an exchange service for a wide range of digital assets within its mobile application. The latest offering facilitates instant limitless native trades of almost all fiat and digital currencies that are supported by the company.   

As per a statement by Nexo, the novel service offers exchange between over 75 cryptocurrency and fiat currencies. Moreover, there is no limit on the total number of exchanges a user can make through the mobile app and trade up to $50,000 in value.

In addition to the above, the Switzerland based crypto lender (Nexo) will not hold the assets that are being traded, instead will use a ‘Smart Routing System’ that links multiple exchanges and splits the orders based on the cost per volume, establishing a fixed valuation once the order is placed.

According to Antoni Trenchev, Co-Founder and Managing Partner, Nexo, the rapidly increasing development in the fintech industry has driven the need for a transparent, fast, and cost-effective trading platform that is also secure and easily accessible to the people. The latest offering by the company highlights the Exchange’s main proposition in the context of Nexo’s mission and the wider digital economy.

Notably, the new Exchange platform offers an on-ramp crypto for newcomers to this space, and provides access to the company’s NEXO Token, removing the need for any third-party services to facilitate trade and acquisition.

As such, it plays an integral role in the firm’s tokenomics overhaul Nexonomics and strives for better cryptocurrency adoption, supporting long-term development of a healthy digital economy.

Seemingly, the novel Exchange is the latest in a series of product upgrades, new launches, and the announcements that are aiming at shaping Nexo’s offering into retail banking for digital assets and building the NEXO Token’s economy.

As per reliable sources, during Q3 2020, the firm launched the ‘Earn in NEXO opt-in’, a US$12Mn buyback program, and a new Loyalty program. In the first half of 2021, Nexo is working to introduce the highly anticipated Nexo crypto credit card, new asset integrations, advancements to the company’s insurance policy, expansion of the company’s institutional offering along with the purchase of bank licenses.  

Source Credit: https://www.businesswire.com/news/home/20210201005587/en/Nexo-Introduces-In-app-Cryptocurrency-Exchange-Service