Digital asset business Nexo (NEXO) has launched a new card that allows the company’s customers to spend their funds without selling their digital assets in selected European markets. Nexo is offering its new product in partnership with payments giant Mastercard and Lithuanian fintech DiPocket.
The company said that its Nexo Card provides its users with access to crypto-powered liquidity across more than 92m merchant sites across the world, at a 0% annual percentage rate (APR). However, this zero-cost credit is available to eligible Nexo clients who maintain a loan-to-value (LTV) ratio of 20% or below, according to the firm.
“The card requires no minimum repayments, monthly, or inactivity fees. There are no FX [foreign transaction] fees for up to [EUR] 20,000 per month,” or USD 21,640, according to the statement.
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