Nexo Introduces Crypto-Backed Credit Lines in Australia

Nexo, a cryptocurrency exchange and financial platform, has obtained lending authorization in Australia. This development enables users to borrow funds against their cryptocurrency holdings without selling them.

The new service, called Credit Lines, offers loan payouts in Australian dollars or eligible stablecoins with no fixed loan term. The assessment process is reportedly fast, but Nexo hasn't disclosed the eligibility requirements or detailed terms yet.