Nexo Launches Regulated Crypto-Backed Credit Lines in Australia 

Nexo is expanding its Australian product lineup with crypto-backed borrowing, making its Credit Lines available under the country’s consumer credit framework after securing authorization to operate as a Credit Representative.

The digital asset platform said the lending product will operate under Australia’s National Consumer Credit Protection Act. Its Australian entity is also a member of the Australian Financial Complaints Authority (AFCA). 

The rollout extends beyond lending. Nexo is bringing its tiered Wealth Club loyalty program to Australian users and introducing Nexo Booster. 

The rollout also includes Nexo Growth, the newly rebranded version of the platform’s growth product.

Source: NEXO