Crypto Lending Platform Nexo To Distribute Dividends To Token Holders

Announcements, News | July 2, 2020 By:

Crypto lending platform Nexo has announced that the third Nexo Dividend will be paid out to eligible NEXO Token Holders on August 15.

Nexo is a regulated financial institution for digital assets. The company is offering tax-efficient ‘Instant Crypto Credit Lines, high-yield ‘Earn Interest’ products and ‘Send & Pay’ capabilities for clients to maximize the value of cryptocurrencies, while ensuring $100 million custodial insurance and military-grade security of the Nexo Wallet. Nexo claims to have processed more than $3 billion in 40+ fiat currencies for 800,000+ users across more than 200 jurisdictions.

NEXO Token holders receive 30% dividends from Nexo’s profits. Dividends are paid periodically and distributed proportionately to all NEXO token holders in BTC, ETH and/or NEXO Tokens and/or USD stable coin. Nexo said that the payout amount, to be communicated on the August 5 ex-dividend date, will reflect the company’s growing profitability.

Antoni Trenchev, Co-founder and Managing Partner of Nexo, said that their operations have remained as strong as ever, with profits marking constant growth despite the temporary pandemic-induced downturn.

“The steady stream of asset integrations and launches, including our Earn on Crypto product suite only last week, underscores our confidence in the sustainability of Nexo’s business model,” said Trenchev. “Distributing our third dividend is the icing on the cake after both an exciting and turbulent few months, and reflects our commitment to rewarding NEXO Token Holders, our greatest supporters, for their trust and ownership.”

According to Nexo, the previous dividend payout of US$2,409,575 was distributed to token holders on August 15, 2019. A first, interim dividend of US$912,071 was paid out on December 15, 2018.