← Embedded Finance Index 2026

Nexo

“Can a crypto-backed lending platform become the regulated, full-stack digital wealth OS for both retail and institutional clients globally?”

Founded2018
HQVilnius, Lithuania (also registered in London, UK)
IndustryFintech / Crypto
The story

Founded in 2018 as a crypto-backed lending platform, Nexo quickly became one of the largest centralized crypto lenders by offering instant credit lines collateralized by digital assets. As the crypto market matured, Nexo expanded into a full wealth platform — adding savings/yield products, a debit/credit card, exchange, prime brokerage, and white-label infrastructure. Following the 2022 crypto winter and regulatory scrutiny across jurisdictions, Nexo pivoted toward compliance-first positioning, filing for MiCA authorization in the EU and pursuing ISO/SOC certifications. The company is now positioning itself as the premier regulated crypto wealth platform serving both retail and institutional clients.

Last 12 months
2025-02
2026-02
2026-01
Product timeline
2018
Nexo platform launched as the first-ever crypto-backed credit line product.· lending
2019
Launched first $12M NEXO Token Buyback Program; issued world's first crypto-backed loan used for a mortgage.· lending
2021
Launched the Nexo Card (credit and debit modes) offering up to 2% crypto cashback on purchases.· card
2022
Signed indicative term sheet to potentially acquire competitor Vauld during crypto market downturn.· acquisition
2023
Achieved SOC 2 Type 2 and SOC 3 Type 2 compliance; expanded Fixed-term Savings products.· banking
2025
Partnered with Sphere for cross-border business payments using blockchain-based settlement; launched Zero-interest Credit product.· lending
2026
Filed full MiCA application with Bulgarian FSC for EU-wide CASP authorization; won Consumer Lending Product of the Year at FinTech Breakthrough Awards 2026.· pivot
Regulated entities
3
regulatory licences held by Nexo
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
6 layers disclosed in Nexo’s embedded-finance stack
Payments / PSP
Nexo Payment Gateway (self-operated)
Banking / BaaS
in the full report
Lending
in the full report
Insurance
in the full report
FX & payouts
in the full report
Crypto
in the full report
Accounting gap: minor
10 more providers across 5 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.