Nexo is the world's first instant crypto-backed loans platform.
The Nexo, Utrust partnership will make it possible for UTRUST to integrate Nexo's instant crypto-backed lending capabilities on UTRUST's platform in order to provide crypto holders with the option to make delayed payment purchases, quite similar to PayPal Credit.
The partnership expands the two companies' existing infrastructures, allowing buyers to make secure purchases while HODL-ing their crypto assets.
Nuno Correia, CEO of UTRUST said the company is thrilled by the possibilities their partnership with Nexo opens up for the crypto world. The duo are joining forces to further build on their mission to provide consumers and merchants with a reliable payment infrastructure, allowing them to tap into the full potential of cryptographic technologies.
For Georgi Shulev, Nexo's Managing Partner, one of the main barriers to cryptocurrencies' mainstream adoption has been an inadequate payment infrastructure and merchant network, limiting consumers' buying choices and, ultimately, disturbing their purchasing experience.
The partnership between Nexo and UTRUST is intended to correct this deficiency and empower buyers and merchants alike to tap into the unlimited capabilities of blockchain and cryptocurrencies.
Nexo helps crypto investors unlock the value of their wealth by providing them with instant loans in USD, EUR and USDT (Tether) against their crypto-holdings. By securing their assets in the Nexo Platform, rather than selling them, clients obtain immediate access to cash and keep the upside of future value appreciation of their cryptocurrencies and tokens. The concept has quickly gained an enormous following amongst crypto miners, hedge funds, ICO companies and many more. Investors of all sizes and nationalities have found various reasons why Nexo is their first association with crypto-backed loans.
While blockchain payments have undoubtedly disrupted financial transactions with their speed and low fees, UTRUST adds a much-needed consumer protection layer.
UTRUST's platform enables consumers to enjoy the comfort of paying with cryptocurrencies in a secure way. It acts as a third-party mediator, holding funds on each payment until the seller delivers the product or service. In addition, it protects buyers and sellers from market volatility, by converting cryptocurrencies to fiat immediately after payment.
The company allows for friendly dispute resolutions between buyers and sellers. In case the parties fail to reach an agreement, UTRUST steps in and refunds the buyer, upholding standards like those of Paypal.