The digital asset platform secures authorization to offer credit lines under Australia’s consumer credit laws, expanding its services.
Nexo has introduced regulated crypto-backed credit lines in Australia after being appointed as an authorized Credit Representative. The service operates under the National Consumer Credit Protection Act, ensuring compliance with local financial regulations.
The platform also unveiled additional products, including the Nexo Booster, a rebranded yield product called Nexo Growth, and a tiered Wealth Club loyalty program. Nexo Australia is a member of the Australian Financial Complaints Authority, providing dispute resolution for customers.
The move marks Nexo’s expansion into a regulated framework, potentially increasing accessibility to crypto-backed lending in Australia.