72% YoY increase in crypto-backed borrowing reports Nexo

Digital assets platform Nexo reported a 72% year-over-year rise in crypto-backed borrowing through the Nexo Card as users choose to hold their assets instead of selling, as per the information shared with Finbold on July 10.  Nexo’s 2024 Card Report shows that over 100,000 Bitcoin (BTC) and 750,000 Ethereum (ETH) avoided being sold through users accessing the Nexo Card’s collateralized credit line. Weekly card transaction frequency jumped by 324% across the European Economic Area. “Today, people don’t want to choose between their financial future and their present needs — and the Nexo Card reflects that,” noted Chief Product Officer Elitsa Taskova source: https://finbold.com/72-yoy-increase-in-crypto-backed-borrowing-reports-nexo/