Nexo To Launch Non-Custodial Wallet

Nexo, a cryptocurrency lending institution, announced the launch of a non-custodial wallet that will allow users to keep their tokens while covering gas fees across all supported networks with a variety of stablecoins or WETH.

The Nexo Wallet is a simple way to transmit, receive, exchange, and store digital assets on five different blockchains: Ethereum, Polygon, Binance Smart Chain, Fantom, and Avalanche-C.

This self-governed wallet will also serve as an identity wallet, allowing users to build up and utilize the advantages of their self-governed Web3 profile using Non-Fungible Tokens (NFTs) and the Ethereum Name Service (ENS).

This self-governed arrangement eventually allows consumers to keep control of their identity profile, which is nearly normally retained by centralized organizations.

The wallet will employ on-chain services to provide other functional features such as lowering gas fees, assuring the best rates for in-wallet swaps, and consolidating users’ balances across several wallets into a single interface.

Users may now sign up to participate in the beta.

Nexo is the world’s most advanced, regulated digital assets institution offering quick fiat on-ramps for 40+ cryptocurrencies, industry-leading earn rates on assets, intuitive crypto exchange, instant crypto credit lines, and the world’s first crypto-backed credit card.

The company’s mission is to maximize the value and utility of cryptocurrencies. The company help 5+ million users in 200+ jurisdictions grow their crypto wealth through their comprehensive​​ product suite.

Nexo’s website lists registrations from numerous states in the United States as well as six other countries.

The European Union is likely to enact legislation on crypto assets that would allow companies to passport their license across the 27-nation union. According to the statement, Nexo intends to take advantage of this under the Markets in Crypto Assets (MiCA) rules. The new restrictions are expected to go into effect in 2024.

Gemini is also the most recent exchange to receive an OAM license.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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