Nexo to Distribute $6,128,000 in Dividends on August 15, 2020

LONDON--(BUSINESS WIRE)--The leading financial institution for digital assets, Nexo, today announced that the third Nexo Dividend amounts to US $ 6,127,981.39 and is to be paid out to eligible NEXO Token Holders on August 15, 2020.

Today, at 15:00 UTC, also marks the ex-dividend and record date.

The payout comprises 30% of the company’s net profit for the period June 30, 2019 - June 30, 2020, and demonstrates 154.32% growth аs compared with the second dividend of $2,409,574.87 distributed on August 15, 2019.

“Our profit unequivocally showcases Nexo’s stellar development and staunch resilience to what are perhaps the toughest market conditions since the 2007 economic crisis,” said Antoni Trenchev, Co-founder and Managing Partner of Nexo. “This cements our position at the forefront of the digital assets space and brings us even closer to becoming the world’s leading financial institution as crypto enters the mainstream. The third Nexo Dividend rewards NEXO Token Holders for their trust and contribution to our expansion.”

Nexo has gone from strength to strength with recent achievements, including but not limited to:

• The launch of the much-anticipated Earn on Crypto for a growing number of digital assets;

• Lowering lending rates to the lowest in the space - starting from just 5.9%;

• Integrating new assets as available collateral options in its Instant Crypto Credit Lines^TM, including the world’s first loans against tokenized Gold;

• Partnering with key industry participants, such as Circle’s USDC and Chainlink;

• Launching its brand new website.

In these most challenging times when the S&P 500 earnings are set to plunge by 60% this quarter and even industry giants cut their dividends by up to 57%, Nexo’s sustainable business model creates a beacon of stability that continues to grow and draws in more people into the Blockchain ecosystem, paving the way to wider adoption in a trustworthy and financially viable way.

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Attached with this press release is the official Dividend Announcement as approved by the Board of Directors of Nexo Capital Inc. on August 5, 2020.

Further information on the NEXO Token and dividend payout eligibility requirements can be found here.

About Nexo

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