Nexo Australia launches crypto loans from 0.9%

Nexo Australia launched crypto backed credit lines on August 19 after becoming an authorised credit representative under Australia’s consumer credit framework. Summary Nexo Australia launched crypto backed credit lines after receiving authorization as a registered credit representative. Eligible clients can borrow against supported digital assets without selling them, subject to credit assessments. Advertised annual interest rates range from 0.9% to 21.9%, depending on product and loyalty tier. Regulated loans are provided by Nexo Individual Loans and serviced under Avgi’s Australian credit licence. Nexo Growth offers returns up to 10%, but ownership transfers and capital protection remain absent. The company said eligible clients can obtain Australian dollars or stablecoins using supported digital assets as collateral. Advertised annual interest rates range from 0.9% to 21.9%, depending on the product and the client’s loyalty tier. Nexo Australia operates under Credit Representative Number 580430. Its regulated credit products are serviced by Avgi Pty Ltd, which holds Australian Credit Licence 567308, according to the company’s disclosures. Nexo secures a lending authorisation in ...