Cryptographic trading platform Nexo has partnered with global payment companies, Mastercard and DiPocket to launch the world's first crypto card in Europe.
The #NexoCard is here!
Welcome the only card that lets you spend the value of your #crypto without selling it! #Hodl while you spend with thе one-of-a-kind Nexo Card linked directly with your Instant Crypto Credit Line!
Get yours now!
1/2https: //t.co/saMvEgcgMg
- Nexo (@Nexo) April 13, 2022
It is understood the Nexo Card is a payment card linked to the Nexo line of credit, allowing its users to spend crypto without having to sell their holdings.
"Various assets can be used as collateral including Bitcoin, Ethereum, and Tether."
If a conventional credit card has a spending limit, this card in turn gives its users the opportunity to spend up to 90% fiat based on their crypto assets.
As many as 92 million retailers worldwide that accept Mastercard also accept Nexo Card as a payment method.
According to Nexo, there is no minimum repayment; no monthly payments; and no payments for inactive cards. Not only that, any monthly transaction of less than 20,000 euros, no additional charges will apply.
Interestingly, users are offered with 2% crypto cashback paid in Bitcoin (BTC) or Nexo’s native token, NEXO for every purchase using a Nexo Card.
The card is available physically or virtually as it comes live through integration with Apple Pay and Google Pay.
Nexo & other collaborations
January - Nexo has partnered with Bakkt Holdings for the protection of their asset holdings, BTC and ETH.
March - A new $ 150 million fund is launched as an investment for Web3 -linked companies and crypto projects.
In the same month, Nexo listed ApeCoin (APE) on its platform with an investment return of up to 12%.
Last week, Nexo announced its digital asset brokerage unit, Nexo Prime.
