We are thrilled to announce the launch of the so-called "Limited" Assets on Nexo's platform. They share the same functionalities as the rest of the currently supported digital currencies, i.e. you can earn interest (both in Flex and Fixed terms), borrow against them, or swap them for other currencies. They can also be transferred between your Credit Line and Savings wallets to suit your financial strategies.
So how are they different then?
Limited Assets can only be obtained and swapped through our own exchange, meaning you cannot directly deposit/withdraw them to/from our platform. The introduction of designated wallets and the underlying blockchain integration that powers on-chain transfers is a rather complex and time-consuming process. This is where Limited Assets step in: they allow you to diversify your portfolio and tap into the power of an even wider range of cryptocurrencies right here, right now.
What currencies will be available as Limited Assets?
The cryptocurrency currently onboarded as a Limited Asset is Solana's SOL token, with others to follow shortly after.
Here is a summary of the features and functionalities of the Limited Assets:
- can be bought and sold on Nexo's exchange
- can be collateralized (30% LTV)
- can earn interest at the same rate as other cryptos (up to 8%)
- can be transferred between wallets (Credit Line & Savings)
- balance and dollar value can be seen on your account page
- can be used for loan repayments
- cannot be deposited and withdrawn at this stage
Important: The Nexo Exchange is temporarily unavailable for:
- Clients residing in Australia (effective August 12, 2021)
- Clients residing in the state of New York (effective August 16, 2021)