Nexo

What is Nexo?

Nexo, founded in 2018, is a leading regulated digital asset institution with over $130 billion in processed transactions, serving more than 7 million users in over 200 jurisdictions :contentReference[oaicite:15]{index=15}. Known for its crypto-backed credit lines, dual-mode Nexo Card, and institutional-grade API, Nexo offers lending, deposit savings (up to 14% APY), trading, OTC, and white-label banking services.

Nexo’s ecosystem includes Nexo Ventures, a portfolio of 60+ companies, and partnerships with Fidelity, demonstrating rigorous compliance, asset-backed reserves, KYC/AML screens, and a third-party real-time audit of reserves :contentReference[oaicite:16]{index=16}.

Key Features

• Crypto-Backed Loan Lines: Instant credit lines against BTC, ETH, stablecoins, US treasuries, and gold.
• Dual‑Mode Nexo Card: Allows pay-in-crypto/spend-in-fiat globally; recognized with FinTech awards :contentReference[oaicite:17]{index=17}.
• Earn & Savings: Up to 14% yield on staking, flexible or fixed terms.
• Institutional API: For liquidity aggregation, custody integration, and seamless bank partnerships :contentReference[oaicite:18]{index=18}.
• Regulatory Compliance: Audited reserves, licensed in multiple jurisdictions, and managed through KYC/AML processes :contentReference[oaicite:19]{index=19}.

Use Cases in Accounting

• Collateralized Borrowing: Tracks borrowed principal, accumulated interest, and margin call events.
• Card Spend Flows: Dual-mode spending logs map crypto/debit data for expense reconciliation.
• Yield Income: Accrued staking/savings income is captured as periodic revenue.
• Loan Interest and Fees: Loan disbursement, repayment, and interest flows are mapped as liabilities, repayments, and interest expenses.
• Margin & Exchange Integration: API-led trading in institutional flows reconciled across accounting platforms.

With a strict focus on compliance and enterprise security controls, Nexo allows finance teams to use Cryptoworth’s accounting software to import lending, spending, yield, and reserve data into ERP systems—supporting accruals, impairment, and audit-ready reporting.

Frequently Asked Questions

Can Cryptoworth track Nexo loan lines and collateral?

Yes. Cryptoworth imports Nexo API data—loan origin, collateral value, interest accruals, and repayments—which are posted under liabilities, interest income, and collateral asset accounts.

How is yield from savings and staking handled?

Nexo sends daily/realized interest data which Cryptoworth categorizes automatically under interest revenue with timestamps for accrual-based accounting.

Are Nexo Card transactions captured accurately?

Yes. Spend logs from the Nexo Card—including crypto-to-fiat conversion details—are ingested as expense transactions and reconciled with credit lines within Cryptoworth.

Can reserves audits and compliance reports be integrated?

Absolutely. Nexo’s real-time reserves and third-party proofs are captured and reconciled as reserve asset balances, supporting audit documentation in Cryptoworth.