Crypto lender Nexo is offering a $5,000 minimum to focus on wealthy clients

Cryptocurrency trading and lending platform Nexo is set to offer a $5,000 minimum to use its services as the company evolves into a digital asset wealth manager targeting the affluent market.

The move, which takes effect in February, is part of the company’s 2025 plan Growth strategy and a recent rebranding, according to a press release issued Tuesday.

“Guided by principles rooted in traditional finance and the personal excellence of private services, we are committed to delivering sustainable wealth solutions for generations to come,” Kosta Kantchev, co-founder of Nexo, said in a statement.

Nexo is one of the few cryptocurrency borrowing and lending platforms that survived the 2022-2023 bear market, and the collapse of many centralized cryptocurrency financing companies at that time. Looking forward, Nexo Obtained initial approval for operation As a licensed entity in Dubai in March last year.

Nexo has more than $11 billion in assets under management, has issued $8 billion worth of crypto credit, and paid more than $1 billion in interest, the company said.

[Update: date in story changed to February]